One strategy to help start an education fund for a small child is to refinance and get a Pay Option ARM. A pay option ARM can maximize your monthly cash flow. You can then use this additional cash to start a child education fund.

You can take out a 2nd mortgage or Home Equity Line of Credit to help pay for a child's education. The interest may be tax deductible (consult a tax advisor about tax deductiblity). Also, you may be able to refinance your 1st mortgage and access some of the equity in your home to pay for your children's education.

Purchasing rental property, can add income to help pay for you childs education expenses.

 

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