by Rachel Li on Aug 7, 2018
For parents facing the prospect of six-figure college bills, every bit of savings and every last tax break helps. As many Americans digested the details of the new tax law, it was natural to lament the end of deductions for interest people pay on home equity loans. After all, if you don’t have savings but have been paying down your mortgage, it’s awfully tempting to borrow against your house to pay for college. Many colleges seem to count on this. In fact, scores of the more expensive private ones ask about home equity during the financial aid process.