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Yes it would help your credit if you took out Federal loans like a Stafford loan and you all could afford to pay them back because they are under your name. But remember with any way to build credit you have to pay more then what you actuallty borrow and that is the interest rate on any loan you take out to build credit. If you can afford it and you want to build credit then why not. But the cheapest way to pay for college is cash if you have it. Taking out loans is like an investment. Helps your credit, builds responsibility on paying back lenders, and what ever interest you do pay get paid back more since an education will help to make more money.