Question

Should you take out a home equity loan to either pay for college or to consolidate your credit card loans? Why or why not?

Answer 1

A loan for another loan is in something a good option unless it is highly necessary on the whole and in this regard it can be mentioned that home equity loan is only meant for using home as collateral to receive the loan and if you find that it college education is more important, then you can actually take home equity loan as it's a necessity and if the credit card loans are low enough then it would be better to offer personal loans and managed through your income in the subsequent months or years on the whole.