why they want to use the money for the kid's education to purchase the rental property.
The purpose of the two is so different.
1)Can the kid get staudent loan?
2)Do they mean that they use the cash to purchase the house, and cash-out later?
What if someone lose the job, and can not get the cash-out loan? Will that affect the kid's education.
Personally I don't think they should touch that part of money for the college funds.