according to the us department of education the average cost of a year at public school is $ 15100 and $ 32900 for private institutions those costs are more than outpacing inflation and wage growth today there is more outstanding student loan debt than credit card debt
The draw period of a loan is usually determined up front and explicitly defined in the contract terms of the loan. The draw period consists of a time frame during which the credit facility may be accessed, and may include an increasing maximum as the loan gets older.
How does a HELOC work? The first 5 or 10 years of a HELOC (the period varies by lender) are known as the draw period. During the draw period, you may borrow from the HELOC and the minimum monthly payments are interest only. After the draw period expires, the repayment period begins. Usually the repayment period last 20 years.