Reply to Parent expecting me to pay back parent plus loan

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[quote=Anonymous][quote=Anonymous]What I don't get is how can all these daycare parents pay $1600-2000 a month for daycare (this is low end of costs), but college parents (who presumably make more money with 18 years more of job experience) can't afford to give their kids the same 24k in money yearly towards college? Plus surely they could have saved 4-5k a year beforehand as well?

I feel like the ability for kids to get student loans has made it so that parents feel no responsibility. And kids spend more than they should because they could get the loans.

I understand why student loans are needed but it has inflated prices for everything.

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Most parents choose not to "save".  Because you are correct, if you take whatever you were paying for daycare and redirect at least 50% to "college savings" (and the rest towards retirement), most people would be much better off.

In state costs $25-30K (there are options for more in many states, but for most you can spend $30K or a bit more and be at a great school).  If the kid works summers and breaks and 8-10 hour PT job during the year, the kid can earn $10-12K.  That means the parents need to contribute $15-20K per year.  Or have chosen to save $200-300/month towards college.  It's really all about choices

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