Loans for your children?

[Marlinark]

I am thinking about making a loan for my new child during colledge.

Is this a wise investment?


Thank you,
~Mark
my personal loans (http://www.prosper.com/)

[kare.bear]

If this is a new child (i.e. young) and you have time to invest for college, I believe that is the wiser choice - pay yourself first and earn interest. There are many tax advantages to setting up a college fund for your child.

Also, federal loans for college appear to have better tax advantages. I'm not sure that a personal loan is the way to go for a college investment. I recommend sitting down with a financial planner (many will do an initial visit for free) to discuss the pros and cons.

[Aquarius68]

What's with the link? Looks like you have a personal interesting in hawking personal loans, eh?

[craftyashley]

What's with the link? Looks like you have a personal interesting in hawking personal loans, eh?

So subtle, right?

[Marlinark]

Ok, talked with a more legit financial advisor.

So glad I did, making a loan is not the way to go at this point or nearly any is the advice I got.

[babyandymom]

what did your FA say? I set up a fund for my child.