I think I agree, Jon. I have really revised my expectations and opened my mind re: my kids and college. DH and I both went to expensive private colleges that we really loved, but I can't see saddling my children with that kind of debt in this economy....even with high-ability kids, I'm wary (though I reserve much of my opinion till they're college-age). We may strongly push for an honors college at a state school instead. I feel a little sad about the idea, but more sad about the idea of them having to spend so many years getting out from under their loans. I know a LOT of people my age (pushing 40) who are still saddled with a mountain of debt (usually grad school, though not always). Some are just starting out in their careers, and they generally have kids to put through college and a retirement to save for. It looks nightmarish, and I'm very grateful that my own small loans are long paid off and that DH's grad school was entirely subsidized (he's a scientist). This has given us so much freedom. We both have relatively low-earning but interesting service-oriented jobs in government, which suits us. If we had mega-loans, we'd both likely be working in corporate America. I used to freelance for pharma companies who paid me much better than I'm being paid now, 15 years later, but I hated it.
Last edited by ultramarina; 03/28/12 09:42 AM.
