Education costs did not go up because of loose Home equity. It actually started long before that with Congress Stepping into the Fray with the Higher Education Act. This basically set in place the securitization of Student Loan by the Quasi govenmental Sallie Mae.(Sallie Mae later went public). This is what drove interest rates dow and college costs up.

With respect to the cost of Education. I don’t think the cost of education is overly exaggerated. I would advise any parent that whatever the cost of Tuition is to essentially double it. Once doubling you can start to back out costs form there/ Lap tops are now a necessity. If they already have one minus it out. If they have a Queen bed and live in a dorm they are going to need sheets bed spreads etc. They may need to have a phone in the room. They will split these costs with other roommates but it is surprising how these incidentals add up at least in year one. By year 2 costs should go down. They know people so it is easy to get text books. They know people so it is easier to get a better on campus job etc.