However, the financial hit of college may be just as large for children of affluent parents who don't qualify for financial aid but graduate from college without any debt (because their parents pay). Some colleges cost as much as $55K/year, which is $220K for a B.A. My wife and I can and probably will pay these bills out of current earnings, but at what price point should parents say "here is the cash, you decide if college is worth it (or if the extra cost of a private college vs. the state university is worth it)"?
One of my college roomates had this happen to him. He could either go to Dartmouth or his parents would keep the $100,000 for him and give it to him later. His mother died and he never got the $100,000.
In my case, my mother died and my father sold her inherited family assets to give to his new wife instead of paying for my sisters to go to school. His new wife decided they needed to take out loans. I didn't get any money for law school and got to take out loans.
