Reply to I genuinely don't get saving for college for kids

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]NP here. We're older parents. We started saving when our first of 3 was born. 19 years later, we have 3 generous 529s that enable all our kids to go to college more or less where they choose. The downside? Impossible to get financial aid. We also made a lot of sacrifices along the way, despite pretty well-paying jobs. We prioritized. We know we're outliers. No judgement of parents who do things differently... it's unfortunate higher education in this country comes with such a price tag.[/quote]

You apparently didn't need financial aid, so what's the problem?  [/quote]

New poster.

The problem is moral hazard.  Some parents make difficult choices to limit their family size and only have one child. They prioritize funding a 529 and saving instead of taking vacations and leasing expensive cars. Then they don't get financial aid and feel like chumps when other people with the same financial resources who made different decisions over the years get rewarded with financial aid for their children.

If you reward asshole behavior you get more assholes. [/quote]

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