I read this article a couple of days ago and still cannot figure out why these parents didn’t put limits on university cost. We would not be required to take out loans to send our kids to college but budget was still a consideration.
We are in a someone unique situation as Georgia residents where free tuition at UGA and Georgia Tech is very difficult to turn down if those schools are a good fit for your student, but the common sense principle that you should not borrow more money than your kid will earn their first year out of school needs to be a consideration for anyone borrowing money (child or parent) to send a kid to college. College debt can be crippling!