“You cannot imagine how exciting it is to see another thread with someone telling others how to spend their money and what to borrow/not borrow. If people want to borrow to invest in their kids - go for it. Kids, if your parents want to do this, let them. They are adults and can decide how they choose to spend their retirement. Let go of the guilt, go to college and work your tail off. Respect what they do for you. The most successful family I know sent several kids to private colleges and spent or borrowed (idk cause it’s none of my business) a million+ bucks to do so. Everyone of those kids is highly successful and has a great life ahead, strong social circle and earning power, and their parents are happy knowing they did all they could for their kids. Those parents knew what they were doing and did what they wanted. Others don’t spend nearly as much and could have same success or flop. Some families can’t see beyond the station they are in, and their kids remain there with them - maybe they are happy there, maybe they are not given chance for anything else. Point is, it is up to each family to decide. Sometimes borrowing for an undergraduate education is the best thing you can do for that kid - setting their course and setting them up for the rest of their life.”
@scotlandcalling I LOVE IT! My feeling exactly.