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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]We told our kids very early on that it was a public instate college or they paid the difference.  Even if I could afford $80,000a year, I wouldn’t pay that for an undergrad degree. [/quote]

Why did you have kids if you're not prepared to pay for college? We saved the money and paid every cent (full pay) for the costs and all expenses at top 10 schools for each of our kids. [/quote]

You can be prepared to pay for college but not prepared to pay $80k per year for college. Just like I'm prepared to buy a car but not a top of the line luxury car. Paying for your kid to go to an $80k college is purely a luxury. They can get a good education and solid start in life for half that price. Fine to pay more if you want to and can afford it but it's hardly a parental failing to not to do that.[/quote]

[b]You’re going to tell you child they can’t go to MIT, Stanford or an Ivy League college because it’s too expensive? [/b] I’d mortgage my teeth and take out loans for my kid if I haven’t saved enough.

And sometimes an expensive but less competitive LAC can turn a mediocre student’s life around.  Happened to my little brother.  He’s forever grateful our parents really sacrificed to pay for his private college.  [/quote]

That is exactly what we told our high-performing kid.  He had/has the stats and the profile, but did not apply because we can't pay for it.

I would not mortgage my teeth or take out loans, unless the loans were very modest (they would not have been).[/quote]

We've told our kids we'll financially support their decisions when the time comes and they get accepted - but we've been silently grateful that neither have shown an interest in the big-ticket (ivy/high $ private) schools, and both will likely have the stats to get some merit at the schools they are interested in.  Plus, we have saved so that we'll be able to pay from our salaries and their 529s.  But, that said, we will NOT take out a second mortgage.  We'll co-sign a private student loan if needed.  Also, 1/2 of their paychecks now from jobs go into savings to help them pay for incidentals when they get to school.
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