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If however we reach a point where student loans come up I've debated taking out a fresh morgage on a paid-off rental house...

Or, there is nothing wrong with your children working their way through college. They can start working summers now and begin setting aside their own money. Besides, they might appreciate their education a little more and take their studies more seriously if its their own skin in the game. Plus, they might pick a degree that is more likely to land them a job at graduation.

While admirable, this is a too common a mistake, parents taking on debt for their kids.

JLC
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