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[quote=Anonymous]OP,
The bottom line seems to be that your niece has made this decision, regardless, and now will have to decide if she wants to take loans out and use the $100k to pay them back, or pay as she goes. I hope the other aunt in charge is wise enough to not allow the niece to use the money to buy a fancy car or take vacations. However, that ball is not in your court.

The only thing you can do is
1. Review the FAFSA form with her and make sure she gets the financial aid she is entitled to
2. Show her how much of the $100k she will have after 4 years of college, point out room, board, books and then compare it with that same amount after 4 years broken down into monthly payments, and a sample budget for, say, a $50k/year job. Get into a discussion about entertainment money, a car or transportation, and lay out some numbers for her. Talk about getting a job, will she pay you for food, etc. It seems like no one has had this discussion with her 
3. This is the hard one: you have to let her decide. But SE number 2 above, you will have given her facts.
After that, she is no different than the millions of students drowning in student loan debt and little income if she doesn't choose a major wisely and blows money either way.
Judging from the fact that she is insisting on this college and didn't even apply to any cheaper schools BEFORE she knew about the money, you have an uphill battle. But perhaps you can do a really good job spelling out how much money different careers make, look into what it actually takes to get into medical school, alternate career paths, and what crushing student loan debt looks like. [/quote]

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