Jump to content
House Price Crash Forum
Sign in to follow this  

Not Saved Enough To Pay For Your Kids College Should You Tap Your Pension Or House

Recommended Posts


Parents who want to pay for their children’s college education but haven’t saved enough may consider tapping into either their home equity or their retirement accounts. Which is the smarter way to go?

“In an ideal world, you would not need to do either,” said Ann Minnium, the principal at Concierge Financial Planning in Scotch Plains, N.J.

And the truth is, only 5 percent of families use home-equity lines, retirement accounts and other forms of parent credit to help pay for college, according to an annual survey of families with undergraduates by Sallie Mae, the nation’s largest private student lender. Grants and scholarships are the most common funding source. Some 65 percent of families of college students rely on them, up from 50 percent five years ago, according to Sallie Mae.

If alternative sources aren’t enough, however, Ms. Minnium said, “the home equity is less bad than the retirement.”

Coming to the UK soon! Although some have been doing this for private school for years...

Share this post

Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   206 members have voted

    1. 1. Which of the Prime Minister's options would you choose?

      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.