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  • Member You - Lines of Credit and Students: Innovative Financing Options for Higher Education

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    lution to helping pay for college when other method are not available. Parents may take out a line of credit on their home, or establish a line of credi
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    With many financial aid packages being cut as part of overall budgetary cutbacks by the government, many families and students are finding that they must foot an ever increasing portion of the higher education bill through traditional means. Unfortunately, many families simply cannot afford to pay for their child’s education out-of-pocket. They find themselves turning to alternative means to help finance educational expenses, and some families are turning to lines of credit as one unique solution.

    Though only available to families with assets or other financial means, lines of credit can offer the solution to helping pay for college when other method are not available. Parents may take out a line of credit on their home, or establish a line of credit

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    foot an ever increasing portion of the higher education bill through traditional means. Unfortunately, many families simply cannot afford to pay for their child’s education out-of-pocket. They find themselves turning to alternative means to help finance educational expenses, and some families are turning to lines of credit as one unique solution.

    Though only available to families with assets or other financial means, lines of credit can offer the solution to helping pay for college when other method are not available. Parents may take out a line of credit on their home, or establish a line of credi

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    ir child’s education out-of-pocket. They find themselves turning to alternative means to help finance educational expenses, and some families are turning to lines of credit as one unique solution.

    Though only available to families with assets or other financial means, lines of credit can offer the solution to helping pay for college when other method are not available. Parents may take out a line of credit on their home, or establish a line of credi

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    to lines of credit as one unique solution.

    Though only available to families with assets or other financial means, lines of credit can offer the solution to helping pay for college when other method are not available. Parents may take out a line of credit on their home, or establish a line of credi

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    lution to helping pay for college when other method are not available. Parents may take out a line of credit on their home, or establish a line of credit based on their creditworthiness and assets at their local bank. These open up an account that works like a credit card, but has the convenience of a checking account.

    For example, say that John, a child of Mary and Bob, is attending the local University. Financial aid and student loans have taken care of 85% of his educational expenses, but that still leaves 15% that John and/or his parents are responsible for. Though John has a part-time job, at the beginning of the semester he needs an additional $1,200 to pay for tuition. His parents write a check against their line of credit at the local bank.

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