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[quote=Anonymous][quote=Anonymous][quote=Anonymous]#1. Do not borrow from retirement. One important consideration is that if your husband borrowed from retirement and then got laid off (not an insignificant consideration in your 60s), you would have to pay back that loan immediately. That happened to my DH (before we married) but fortunately he was almost done with the repayment.

The kids should be taking out the maximum federal student loans. It's a modest amount each year and should not be a burden to repay. And important to consider that if you don't take out the loan one year it does not increase the amount you have available the next year. That is, 1st year can take out $5500, 2nd year $6500, 3rd yr and beyond $7500. If you don't take the $5500 in freshman year, you can still only take the $6500 the next year. [/quote]

Sounds like they are doing this, which is good. The posters who have suggested the kids take loans need to understand that this is the maximum, anything above has to be taken by the parents, not the kids. Agree that it makes sense to take money from the rental rather than retirement (or sell it). [/quote]

So far taking out money from rental is better option than retirement, in hindsight we should have taken money out when we refinanced 2 or 3 years ago but we don't want to add any additional monthly expense from the rental but now we might end up with higher rate and may be additional monthly cost. [/quote]

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