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Preparing for College Expenses

If you are a parent, you know that paying for college can feel overwhelming—especially if you have multiple children heading off to school in the future!

If you are a parent, you know that paying for college can feel overwhelming—especially if you have multiple children heading off to school in the future! In our latest blog, Kathy Seyfert, NMLS #503197, shares a unique way to save for college—or other future expenses—with a HELOC from Fidelity Bank & Trust!

Why should I consider a HELOC for college expenses?
“One of the main reasons to consider a HELOC for college expenses is that the funds are easily accessible and provide immediate liquidity,” says Seyfert. “Plus, if you already have a mortgage in place with Fidelity Bank & Trust, you can simply call us or write a check to access the funds after the approval is complete.”

How does the HELOC process work at Fidelity?
“At Fidelity Bank & Trust, each HELOC starts with an application,” explains Seyfert. “We take a look at the home used as collateral and figure out what equity can we tap into to give you a home equity limit.”

Once that’s established, the rest of the approval process is extremely fast and from that moment on, you can use the funds however and whenever you want—it goes straight into your checking account!

Why should I choose Fidelity Bank & Trust for my HELOC rather than another lender?
“I like to let my customers know that I’ve personally done this before. I’ve been in your shoes before and will walk you through every step of the process,” says Seyfert. “At Fidelity Bank & Trust, our customer service is top notch for home loans. We own our own homes and have walked the walk to help you through the process!” 

Kathy also has experience using a Fidelity Bank & Trust HELOC for her own children’s college expenses.

“For me, utilizing a HELOC was a great opportunity because with multiple children in college, it can become overwhelming to think about expenses. If parents have their own student debt, then add on a loan for their children’s education, it can make the family budget tight,” explains Seyfert. “There are many options out there for students to garner financial aid, but options are more limited for the parents.”

Whether your student is ready to head off to campus this fall, or you’re planning ahead for future education expenses, a HELOC from Fidelity Bank & Trust may be a great option to benefit your family. Reach out to our experienced team today to explore your options!