A Smart Option to Help Pay for Education
Securities-based Lines of Credit in Practice is a series based on borrower experiences using GS Select.
Paying for education can come with a hefty price tag, from books and supplies to room and board. Making ends meet can be a challenge – even with financial aid.
Our team was delighted to hear one recent client describe the game changing effects of a GS Select securities-based line of credit when it came to funding her daughter’s college education. She had taken out several unsecured loans, each with different interest rates, durations and payment schedules. They amounted to monthly bills of almost $1,300. Our client was under pressure to track all of the payments, write separate checks each month and ensure that nothing slipped through the cracks.
Things changed when her financial advisor told her about GS Select.
Our client paid off the other loans by consolidating everything into one secured line of credit with GS Select. She felt she had greater flexibility and control over her expenses with everything in one place. The GS Select portal provides her direct insight into her credit line, which she can use for her next college-bound child or other education expenses.
That’s smart thinking.