Should you use home equity to pay off your student loans this fall? Experts weigh in

Borrowing home equity to pay off student loans could make sense for some homeowners this fall. jovo/aerogondo/Getty Images

Student loan payments plague millions of Americans, and with interest constantly accruing, it can sometimes feel like there's no end in sight. For some consumers, it can even make handling everyday costs and expenses challenging.

If you own a home, though, you might have an option to ease that struggle.

Thanks to rising home prices, homeowners have gained a lot of equity over the past few yeara. And that equity can be borrowed from with products like home equity lines of credit (HELOCs) and home equity loans . You can then use that money toward expenses, medical bills, or, yes, paying off debts like your student loans. In fact, about 40% of home equi