Kids' College Expenses: How Far Do You Go?

I wouldn't but I understand people who do. I think as debts multiply for those who have to try to put themselves through school we will see less and less of the general populace attending the ivy leagues.

My children have specific interests and have each decided themselves which schools to attend. Neither was particularly drawn to an ivy league education and would probably not have met the academic requirements. I would, I believe, do whatever it takes to place them in the school of their choosing and their desire...but it sounds to me that these friends are basing this on their own dreams and desires rather than the goals of their kids.

My daughter had her heart set on a private college in the Boston area. We told her we had set aside enough money to pay for two years there, but she'd have to go to the local community college for the first two years, and she'd have to get a job and use her earnings for books and other expenses. We wouldn't have dipped into our retirement savings in any event.

My opinion is that the name on the degree only matters for the first job, and sometimes not even for that. My degree from a state college has never hindered me in any way that I could see.

I am depleting my retirement savings for my daughter's education. All three kids wanted out-of-state university education. Wherever they got in, I committed to fund it completely, as my last, enduring duty as a father.

One son just got into Harvard MBA program. He pays.

I agree Carol and it truly has to be looked at as an investment not only for the individual but also for their future. Also, when I say individual, it is my opinion, that when you pursue a higher education you do open your mind and your knowledge base (not to say that cannot happen without the higher education too!)

As an Ivy Leaguer and a faculty member at a state university I can say that instruction is as good at many non high priced institutions. I would be infuriated if I was paying for my daughter's Ivy League education and her classes were being taught by some graduate student. In many cases the instruction is better at a university that rewards teaching over research.

it was up to my daughter to decide where she wanted to go to college; is is her life. i also went to a state school and had an excellent education in a very supportive environment.

she has a very specific area of interest she is pursuing and looked for schools that offered that program. she is on the waiting list of her first choice school, and so has opted for the second choice school which also offered her an excellent financial aid package.

she rejected state schools because none of them offered her particular area of study. she also observed that they are very good places to go if you wish to teach, and she doesnt.

my finances are such that, according to FAFSA, i owe nothing. zip, zero, zilch. her father is always looking for a free ride so we cant expect anything from him. she knows she will have low interest govt loans to pay back, and did not want to be $40,000 in debt at the end of 4 years.

that said, if she had gotten into her first choice school, regardless of whatever financial aid they offered her, i would have supported her 100 percent in going there and would have helped her make it happen. who knows--she may still transfer there.