Finance Education With A Home Equity Loan

Are you one of those many parents who are funding their child’s education? You are probably finding it pretty tough and now with interest rates shooting up, you could probably think of taking a home equity loan to cover your costs. Azstarnet.com reports:

Home-equity loans can be fixed-rate or variable, but because they're secured by your residence, they're likely to be offered at a somewhat lower rate of interest. Also, federal tax laws allow you to deduct home equity interest of as much as $100,000, no matter what the money was used for.

Read more: Personal Finance Home equity loan one refinancing option