Just pointing out that extreme scenarios don't paint a realistic picture. I'm not saying student debt isn't an issue, but going to Harvard isn't a necessity. We told our kids when they started mid school that if they wanted to go to MIT - or any out of state school - they'd better get the grades to earn a scholarship. Otherwise they could go in-state. If they don't value their education enough to work for the grades to get there, we're sure not dumping good money after it.
You are not being realistic. Nowadays even straight A's and close-to-perfect SATs are NOT guarantees of merit scholarships.
If your child does not get a merit scholarship, it does NOT mean he did not try his best in high school. The most selective schools, including the Ivies, MIT, and Stanford, do not offer merit scholarships.
Whether the extra cost of an Ivy is worth it (and whether there is an extra cost to begin with, as I have discussed) are separate questions.
