Weighing options

http://www.fafsa.ed.gov/

Now that I've filled in the financial aid applications, I'm back to worrying about financing college. It seems to be an equation with way too many variables and decisions:

• How should I balance debt for the student vs. debt for the parents?
• Should I take all the loans they offer or refinance the house?
• Or maybe cash out a pre-tax retirement account?
• Should I hold back spending so I can have the same money available when child #2 enters college 2 year from now?
• Should I keep all my finances so that I can set up some sort of trust for msk?
• Will msk ever need his college savings, and if not, can I roll them into some sort of support trust?
• Should I reach out to relatives who have the resources (and no kids) to help out?
• What are these financial aid packages going to look like?
• Is a more expensive college a better investment if it has more support and a co-op program, or is University of Maryland too good a deal (since it's 100% paid for with the pre-paid college saving account we've been paying in for 13 years) to walk away from?

Not much sense worrying at this point. Come March/April, once all the responses and packages are in hand, it'll be time to worry.