Home Equity Line of Credit
If you own a home, you can take out a HELOC at the beginning of your child’s or your college career and reuse the line amount to pay for a variety of college related expenses.
Funding for Education
With the rising costs of tuition, chances are, by the time you’re applying to colleges your family may not have been able to save as much as you need. The good news is that there is help. Today there are many different ways to pay for college, like Personal Lines of Credit or Home Equity Lines of Credit (HELOC) as well as different types of student loans available depending on your financial situation.
Alternative Ways to Pay for College
If you’re the parent of a student, or if you’re a graduate student and have built up some collateral, there are supplemental funding options available through your bank. At Santander, we have several borrowing options to help you fund your education.
Personal Line of Credit
You could also choose a Personal Line of Credit to help pay for college. A Personal Line of Credit allows you to reuse the line as you repay up to your credit limit, requires no collateral, and offers rate discounts with automatic payments from a Santander Bank checking account.
Other Student Resources
Student Value Checking
Mobile-friendly, with no Monthly Fee or minimum balance requirements. Available to students 16-25.
Establishing Credit
You’re just starting out and now is a good time to understand how paying attention to your purchasing and payment behavior will help you establish a good credit history.