Use life insurance loan to pay for college

1

Hi,
I recently attended a presentation by Lance Morgan https://collegefundingsecrets.com which talked about using Retirement Scholarship Strategy to pay for college. He is on youtube as well - https://www.youtube.com/watch?v=jnYK02qSMGQ
He talks about getting a insurance policy and then borrowing from the insurance policy at a lower rate than a student loan with a bunch of other advantages. Is it legit? Has anyone tried this? Thanks

2

I am not familiar with Lance Morgan but it very unlikely that what he is selling will benefit you. A good source of information is the linked article. Myth #9 in the article is “Whole life is a great way to pay for college”

1 Like
3

Thank you. This is very useful and timely. We figured there was a catch but the way the questions he answered were selected it made us wonder if it was a viable option.