Equity release could fund education

Equity release schemes could be used by parents and even grandparents to help university students avoid getting themselves into debt.

A report by Sainsbury's finance has found that the cost of education increased by over five percent last year, much of it funded by expensive borrowing.

The study estimated that over the 12 months from February a staggering £37 million in personal loans was taken out for school fees, university fees and general education costs.

However some families have instead turned to equity release, allowing them to avoid the often crippling interest rates associated with loans.

Equity release can provide an additional income or a cash lump sum that could be used to invest in your child's or grandchild's education.

Why not use our equity calculator to see how much money you could release from your home? Or simply call Age Partnership today to see how we can help you, help the special people in your life.

The views expressed in these videos are those of ReelContent alone. They may not represent the views or opinions of Age Partnership or its staff. RealContent acts in a journalistic capacity and is not authorised to give advice under the Financial Services and Markets Act 2000. The information contained in this video is intended for information and interest only, and not to either provide advice to, or to address the particular requirements of any individual.