[quote=AN]I wish they teach personal finance in HS (make it mandatory) and teach them about ROI. Maybe then, there won’t be so many people graduating with $200k+ in loan with a starting salary of <$40k. I think that kind of debt load really affect them for many years to come.[/quote]
AN and spdrun make some excellent points in this thread. Unless the Ivy League degree is going to be "worth it" (the kid has a clear idea of what he/she wants to get into, and it practically requires a degree from an elite university and/or the connections that can be made in those schools), I just don't see the logic of pushing kids into expensive schools that may or may not help them in their careers. I know people with degrees from Harvard who are doing NOTHING with those degrees, and I know kids with CSU degrees (or no degrees) who are doing exceptionally well. What matters is the field you choose to go into and the connections that you have...and luck, of course!
It's much better to save that money and/or keep your kids out of debt so that they can have some sort of cushion as they grow older. As many of us already know, your 40s and 50s come sooner than you think, and there is nothing worse than reaching that age and realizing that you have too few financial resources and too much debt. I love AN's idea of buying investment properties for the kids. I think that would give a lot of kids more financial security and peace of mind in the long run than an Ivy League degree. Just MHO.
