Student Loans on Rise -- for Kindergarten

Instead of saving up for their sons' college education, Bill Dunham and his wife are taking out loans for high school. Their eldest son will begin ninth grade at a school in Boston where annual tuition runs around $10,000 -- and they already pay $5,000 a year for their younger child. A project manager for a mechanical construction company, Dunham says the schools referred him to lenders who specialize in pre-college education loans. He's taking a loan to cover his son's full high school tuition, which he plans to repay over two years. "If we had the money, we'd pay it now," he says.