About 1 percent of families use home equity loans or retirement plan loans, while about 3 percent put tuition on credit cards. Parents also take out federal PLUS loans and private loans.
"I heavily discourage 401(k) loans. I also discourage pulling money out of Roth IRAs," says financial adviser Jason Lina, who is based in the Atlanta area. "But credit card debt is the worst."
This article was provided by Reuters.