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Reply to "Discussing costs of college"
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[quote=Anonymous]We often talk to our kids about making good money decisions and this is a major one. We live in a neighborhood where most parents would happily pay any price for the school their kid wants. We are not those parents so it is helpful for our kids to understand our reasoning now. This both reinforces our values on how we spend money and gives them reasonable expectations. Explaining this early also allows you to get a stake in the ground before peer pressure starts to tell your kids that the only schools worth attending cost $100k/yr. We have told our children that if they want to convince us that it is worth spending $100k/year we will listen to their reasoning and consider the return on investment. I believe there are a few, very very narrow cases where investing that amount makes sense, but neither of my kids are interested in those careers. Our senior just applied to state schools. Our junior has decided she will apply to privates that give merit aid.[/quote]
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