<p>samtheman -
you should definately should NOT be walking out with your undergrad degree with that much debt. 20K (give or take a bit) should be managable.</p>
<p>The amount of debt that your parents are able or willing to take on is a different issue - and is going to be different with every family. In our case, we only have one child, and are able to manage our EFC by a combination of careful budgeting, limiting non-essential expenditures, and some home equity loans. Not every family can manage their EFC.</p>
<p>It is important to discuss your situation with your folks to see what your situation is. The may be able to handle it without putting retirement in jeopardy; they may not. </p>
<p>Another consideration is graduate school - if you are considering professional school (law, med, mba), there is not a lot of aid available. Unless your family is very strong financially, it’s probably more sensible to be in as close to debt free going in (because you won’t be coming out).</p>