Reply to Parent expecting me to pay back parent plus loan

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]We have very good family friends from Montgomery County where the parents took out massive loans so the kids could attend private schools. The parents are struggling to pay the loans back, literally hurting their retirement while the kids have good jobs and are making plenty of money without student loans. Yet the parents feel the continued obligation to do this. It saddens and sickens me.  They had always felt that their kids should be able to attend any college they wished regardless of expense. It’s ridiculous.[/quote]

I’d do that in a heartbeat for my kids if I needed to.  It shouldn’t sadden or sicken you, that’s what some people see as their duty as parents.[/quote]

Same! I certainly would not want to spend my money chasing a lifestyle I couldn’t afford, taking cruises, shopping and redecorating over giving my kids the best education they can get. I don’t understand these people who will spend over 200 K remodeling their kitchens and bathrooms and then expect their kids to pay for college. [/quote]

I agree you shouldn't be funding luxury remodels and not paying anything for college, but as a parent, I can choose to tell my kid "we will only pay for the top in-state school" as our max cost.  Up to you to choose where to attend but our max is $35-40K(reasonable currently in every state).  Then they can choose to remodel their kitchen and bathroom that is 25 years old if they want.  They are not required to pay for Harvard. 
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The problem with this approach is that it can be very hard to get into the top state school if you are from a high performing area, you may not live in a state with a top state school, and the community college path may not be viable for your major. You won’t know until you see where your kid gets in.[/quote]

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