<p>No one should borrow a cent until they have run some calculators to see how long it will take them to pay off that debt. This goes for college, houses, cars, whatever. Both [FinAid</a> | Calculators](<a href=“http://www.finaid.org/calculators/]FinAid”>http://www.finaid.org/calculators/) and [College</a> Calculators - savings calculators - college costs, loans](<a href=“College Board - SAT, AP, College Search and Admission Tools”>Calculate Your Cost – BigFuture | College Board) have loan repayment calculators.</p>
<p>And yes many of us are theoretically able to pay $X back over the course of Y years, but it is extremely important that the family consider the other places that $X could go to. Given that very few of us can honestly say that our eventual retirement is fully funded, and that our elders do not need any financial support from us, it behooves all of us to think this through very carefully.</p>