Is it wise to refinance mortgage and include some collage costs for child?

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I think this would be a very smart thing to do as mortgage rates are generally lower than any other loan rate. You will be able to pay it off over time and hardly notice the increase. Your child can also repay you over the same time period and it will be easier for him/her as well. If your child is still too young to go to college, sock the money away in a college fund type account. Check out the Gerber college fund accounts if your child is still young enough....Show more