<p>“I think what has changed is that more parents feel the need to pay for their kids’ college education and they themselves have taken on more debt, which is not included in the above numbers. Just one example from some friends–they have taken on over $80,000 in loans for their 2 kids so their kids could go to their dream schools. They had other, less expensive options that would not require them to take any debt. No idea why they went that route but back in our day, that would NOT have happened.”</p>
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<p>Maybe THAT’S it. Among our peers, we have been expected to work like heck to put our kids through a very good, if not dream, school. That has changed dramatically over the last two to three years. Job loss, foreclosure, bankruptcy, and escalating costs have all contributed to a new reality where in-state flagship replaces high-cost private, regional state school replaces flagship, and community college replaces regional state school. They all still GO to college, just a little cheaper one as a rule.</p>