Conversely, if you have a kid that has both #1 & 2 and you put him/her in an amazing “school environment” they will excel and grow exponentially. Close friend’s kid who is brilliant is full pay at Harvard and it’s the perfect college for her. Going to a “cheap state public college” say San Diego State University would not be the exact same environment she is getting at H (even if they happen to end up in a similar job years later). It’s just not. The difference is this family is not taking out 250K of debt to finance this elite education as they have the assets to easily afford a private college. For the OP, on a school teacher’s salary, it’s very unwise to take on 250K of DEBT to go to an elite college, which is the real issue here.