<p>What makes you think that someone earning $150,000 can afford to spend over a third of their income every year on a college? Before taxes? I know my parents can’t, especially since they have 2 other kids to put through college… Furthermore, why is it a kid’s fault if his or her parents spend money on excessive things? I know I’d get slapped if I suggested my parent trade in a luxury car (which we don’t have) for a much cheaper, used one… Or if I commented on their purchases as being excessive and inquired as to why they aren’t saving for me to go to school… My parents participated in a tuition plan for me to go to a state school, not imagining that I would be qualified to go somewhere else. For my dad to send all of his 3 kids to an Ivy League school he would’ve had to put away $50,000 BEFORE TAXES for the last 12 years… That’s more than half of what he earned 12 years ago… Fair? I think not. Point being, a kid should not be penalized for his or her parents’ financial decisions.</p>