FICOYoungster wrote:Thanks Timothy. I was considering taking the money from my house appreciating and using that to pay for a portion of school and pay for the rest with student loans. Good or bad idea?I've been told that I should just take out student loans for the entire amount and save the money from the house. You can't beat the student loan interest rates and I may need the money for another house down payment in a few years.I appreciate any feedback out there.Thanks!
lorihmatthews wrote:There is one more thing to consider -- capital gains tax. You said you are selling your home and don't plan to buy another for several years. You should meet with an accountant to see how that will affect your taxes so you're not blindsided. Otherwise you may wind up paying a load of money due to the sale of the home and the related profit.