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Thousands of Iowa Parents Are Going into Debt to Pay for Their Children’s College (and They Probably Shouldn’t)

When Dean and Lynne Lamp’s oldest son, Erik, headed off to attend Wartburg College in 2005, his scholarship and grants didn’t cover the cost of his tuition, room and board, and the family had no money saved to help him.

So, the Lamps took out a loan to pay the rest of their son’s expenses.