Who can even afford to help the kids with college any more? We paid off the mortgage about five years ago, and now our regular expenses are taking up all the “slack” that used to be the mortgage payment. And we have not changed our lifestyle one bit, have no new cars, do not eat out, etc.
My wife was willing to co-sign college debt until a distant relative through marriage screwed over his parents and refused to help repay the loans after graduation. They’ve been forced to sell their home while he shares an apartment with a girlfriend.
I’d help my children make payments on debt, but not under legal obligation.