As I suggested in your other thread. I would not sell stocks, take out home equity loans or Parent Plus Loans, sell my assets, or any of the other things you are suggesting doing.
Find affordable colleges.
Your first kiddo has $20,000 a year in the 529. She can also take a $5500 loan in her own name for the first year. She can work summers, vacations and during school and likely earn about $3000 or so. So…now you here $28,000 or so on the budget. Add tomthat what you can pay out of current earnings…or what she gets on merit aid at schools,where she would qualify for merit aid.
And you would have affordable options for child 1.
Your first child,has made you believe that she cannot go to college unless it is OOS at the expensive schools of her choice. You, the parent, need to set your budget. If you have $20,000 a year…and your kid gets a full tuition scholarship someplace…she is golden.
Does she have the stats to do that at say…University to Alabama? And if so…did she apply there?