I am thinking about making a loan for my new child during colledge.
Is this a wise investment?
my personal loans
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.
What's with the link? Looks like you have a personal interesting in hawking personal loans, eh?
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.
what did your FA say? I set up a fund for my child.