Hmmm…
I just checked my college’s Web site. The University of Minnesota charges $2700/semester for 13 or more credits, ie, full time college. That’s $5400/year for tuition. IIRC, when I went there, the cost was about $1400 for full-time tuition, and at the time, it was on a quarterly system. 3 quarters = 2 semester. So that’s $4200 for full time tuition.
The other university I attended currently charges about $4200 for a full year of tuition and fees. Both of these prices are for in-state tuition, and it goes up considerably if you’re out of state. That was the case when I went to school as well.
Certainly, costs have gone up in the fourteen years since I was in college. But they don’t seem to have gone up unreasonably, and I managed to get through school without owing a huge amount of money. My parents were going through financial problems at the time, and did not finance my tuition nor living expenses besides the occasional gift or bag of groceries.
Neither of these universities are top notch schools; however, they aren’t a waste of money, either. I’m not saying it’s not expensive to go to Harvard or other top end schools. However, an education can be had to just about anyone who really wants it. Lack of money is no excuse not to get a degree.
Another example: I had a good friend who found herself pregnant in 1992. She had her baby, and entered college as a single parent in about 1994 or so. She managed to support herself and her child while going to school full time and graduating in 1998. That ain’t too long ago, and I know for a fact that she had no parental help.
I’m not saying that you shouldn’t pay for your kid’s college if you can afford it. But I’ve been to plenty of financial advisors who use the “you gotta pay for your kid’s college!” thing as a big scary reason why I have to start investing NOW, even though I have no children.
I certainly hope I’m going to be in a financial situation to help my kids with college, if I ever have kids. But I feel absolutely no obligation to do so.
(yeah, I know this is all speculative evidence. And if I do have kids, I’ll probably turn into one of the people who decide at birth that lil’ Athenetta is goin’ to Harvard and I’m payin’ for it. But until then, I get to rant!)