Reply to S/O What is our obligation as parents regarding college $$$?

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[quote=Anonymous]I retired seven years ago, at 53, after my youngest of four finished college.  My income during the last ten years that I was working averaged about $650,000 a year, and for the last several years was closer to $800,000.

We sent our kids to public schools, and when it came time for college they all included private schools on their lists but ultimately all but one went to a state school (two to UVA and one to another VA school) -- and the one that went private turned down William & Mary after getting substantial merit aid.

We would have considered paying for private college if the case for attending were compelling.  But it clearly wasn't, it rarely is, and our kids were smart and reasonable enough to recognize that without us having to persuade them.  If you're talking about Harvard, Yale, or Stanford, maybe, but why would a Virginia resident choose Vanderbilt, Notre Dame, Boston College, University of Richmond, etc. over UVA, especially for a non-STEM degree?  And why would a Virginia resident choose a private liberal arts college over William & Mary at double the price?

You're picking a college, not a husband or wife or a life partner.  There's more than one perfect fit.

Because we made the decisions that we did, paying for college was a completely stress-free experience; all of the kids graduated debt free and were able to choose whatever job they wanted without regard to finances; and we were able to retire super early and enjoy life while still being in a position to assist the kids with housing down payments, nice weddings, and many other non-educational but very important milestones in their lives.

I applaud OP for  her common sense realization that, just because you CAN pay more money for college, it doesn't mean that you should.   
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