
Should I take out a home equity loan to pay for my child's tuition?
- Broadridge Content
A home equity loan (often referred to as a second mortgage) is a loan for a fixed amount of money that must be repaid over a fixed term. Generally, a home equity loan:advances the full amount you borrow at the beginning of the loan's term, carries a fixed rate of interest, requires equal monthly payments that repay the loan (including the interest) in full over the specified term.







