<p>Has anyone already put a child through college. It has been so overwhelming.
My aunt says she is over 100,00.00 in debt. Does anyone have any input on this?</p>
<p>$10,000 or $100,000?</p>
<p>With some private colleges and universities charging upwards of $40,000 per year in tuition, room & board and fees, it is certainly possible to spend well over $100,000 for 4 years of college. Is it wise or appropriate to go into debt to the tune of $100,000 to finance a child’s college education? That is an entirely different question, and one each family will have to answer for themselves. There are many fine schools that can provide a great education at lower cost, or might provide merit aid. </p>
<p>Some people spend $600 for a bottle of Chateau Petrus when they could have spent $30 for a bottle of Chateau La Tour Figeac. The Petrus is almost certainly the finer wine. Is it worth it to the person who buys the $600 bottle? Only they can say.</p>
<p>Debt is relative. Some parents are able to treat college expenses in the same way as they would a house mortgage. While they could pay off more of the mortgage, they choose not to, because they figure that there is a better use for the money. So some families can accumulate a large amount of debt yet still not feel the pinch now, or later.
As to whether it is worth paying $100,000 for 4 years of college, it is a matter of individual preference–and colleges’ assumptions of your ability to pay. We knew we did not qualify for financial aid.</p>
<p>Actually, $100,000 is a low number. Top 20 pvt school now would be about $180,000+ for 4 years. A state school may average about $70,000.</p>
<p>But, it is entirely possible that your aunt is correct.</p>