<p>Our son was recently accepted to a great state school in addition to being accepted to a an excellent private college. We just didn’t think the private college was 2 1/2 times better than the in-state school (considered one of the “public” Ivys.) We also wouldn’t let him take out loans. He may not understand it now, but 120K to 160K are truly life-crippling loans. I’ve seen some parents allow their 17 year olds to take on that kind of debt and I think they’re very short sighted. (And remember, many will need to go on to grad school!)</p>