I read a short book the other day talking about finances and it mentioned that assuming you have children who are college age and destined to attend higher education, or even if you yourself are, that the amount of equity you have in your home has an impact on the amount of student loans or various means of free college tuition that you are eligible to receive. So, if you have your house paid off, you could end up being viewed as someone who apparently has enough money to put themselves or their children through college; whether there's any truth to that statement or not. So you could find yourself not qualifying for student loans on the basis that you make too much money.

Man, ain't that a crock.