Reply to Giving your kids cash in lieu of tuition for $$ schools

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[quote=Anonymous]My parents almost did this and I’m grateful they didn’t.

I had to decide between a full ride at a good state school and an Ivy. My parents were well off and could easily afford the Ivy (it wasn’t nothing to them, but they had saved etc). They briefly entertained the idea of offering me cash and letting me decide, and I immediately had dreams of living in some awesome apartment at the state school and living well with my cash. I thought the money was more than it was, and while I’m sure I would have saved a lot of it, I definitely would have spent some too.

And ultimately the Ivy opened so many doors to me, and still to this day people are impressed (whatever you think of this, it’s true) when I tell them where I went for college. And no one would have blinked at the very good state school.

(On the other hand I strongly believe I would have been fine if I’d gone to the state school and no parent should stretch too much for an Ivy).

Don’t do it. They’re too young to make that decision.[/quote]

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