<p>Do you have equity in your primary residence? Is that a property in your name only? If so, get your home equity loan using that property and leave the co-owned properties alone.</p>
<p>I guess what <em>I</em> am saying is that your family should certainly determine your own debt ratio. BUT I personally would not allow my kids to go into debt (even with loans in MY NAME) for more than the Stafford loan amounts. If you take $100,000 in loans, someone is going to be strapped with payments of AT LEAST $1000 a month for at least 10 years. I don’t think I ever mentioned a community college (although many successful folks startd out at CC’s and completed degrees at a four year school…to save money). What I suggested was to look at your finances and try to keep your debt to a minimum.</p>
<p>That being said, many folks are willing to take out loans to totally fund a private school education for their kids. This is a personal family decision…and if it’s what you want to do, that is your family’s decision.</p>