Im a complete newbie when it comes to university - im from england and was lucky enough to get a free university education in London that helped me do well in life. My son just got into Princeton which obviously i am very happy about. We are looking at paying around 70K a year for four years, which is about the same as which my mortgage i'm still paying for cost.
Im still a little confused as to the financial connection between parent and child. What happens if i refuse to co-sign a huge loan for my son in which case he wont be loaned the money? Does he not go to Princeton at that point ?