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I still say part of the problem is that our kids rich or poor feel entitled to too many things. Too many times we the parents are afraid to step in and say NO. The most important thing that has to be done is to educate the kids about the process, I think there was something on the news a few years ago where the gal went to a high priced LAC, took out 200,000 in loans and wanted to be and was a teacher. I will say- there aren't too many loan companies that are going to sit down with her and say "is this a wise choice"?
That is somebody elses job. Yes our kids may be 18 or 21 and young adults but the sink or swim theory only works if you taught them how to swim first!!
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