People who took out what were supposed to be low interest loans often ended up being screwed because they were not really low interest and they can not be discharged even in cases of bankruptcy contrast to what happened with the banks themselves but that is another story. Anyway, I’d rather 2nd mortgage the house if it isn’t already than take out educational loans that are actually “guaranteed student loans” because of the rules about bankruptcy, etc. The loans can outlive the school and the student!