Home Equity Loan

Home equity or line of credit to fund college education?

We have plenty of equity in our home and my sons college tuition will be approx. $30000/year. Should I take out a home equity for the estimated 4 year costs, or take out a home equity line of credit and hope interest rates stay low?

Public Comments

1. Loan....never line of credit.....The apr will change on a line of credit.
2. Student loans. They can't take away his education, regardless of whether or not the bills get paid. They can, however, take away your house.
3. Take a Home Equity Line of Credit. That way you can take it as you need it. The bank that I work for offers locks on the lines of credit. So you could take out 30k this year and lock in a rate and term then you would be able to do the same over the next 3 years. :)