Reply to How do most middle to UMC families pay for college?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]We save for it from the moment our children are born.  And frankly, we don't have more children than we think we can pay for.  (I'm not trying to be inflammatory or say that you had too many kids.  I'm saying I would have had more kids if I had more money.)[/quote]

This is WILD! I would say the majority of people I grew up with paid for college themselves - yes took out loans, some quite substantial. Exactly zero of them wish they hadn’t been born instead of going into some debt! [/quote]

No idea how old you are, but I don't many UMC people that had to pay for college entirely themselves...even in the 1980s or 1990s.

Now, my Greatest Generation father did pay for it himself even though he grew up relatively well-off and his father was college-educated.  However, you could attend Harvard in the 1950s for literally like $500 total (tuition, room & board for a full year), when the average HHI was like $4,000.  It wasn't that huge of a lift even back then and he never had to take out any loans.

If the relationship between tuition and household income stayed the same, Harvard would cost a total of $10,000 today.[/quote]

I think proponents of the new bill believe that by capping total borrowing, tuition will come down? [/quote]

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