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A friend told me their financial advisor told them that based on current projections it will take $1 million USD to send their baby to college. I don't think that's gonna happen... something's gotta give.https://twitter.com/AustenAllred/status/981723572665274373 …
I went to UC Berkeley in the early 2000s and was a pretty different world. Something like $7K/yr for in-state residents. Today it would be more like $13K at a minimum, $28K for a freshman year in the dorms.
My parents saved about $10K for both me AND my sister to go to college, and we made it work. My parents had middle-class jobs, some savings, and both me and my sister worked as undergrads to help defray costs. I graduated a semester early to help. We both graduated debt-free.
I don't say this as a moral argument. It is because of my parents and the differences in costs associated with college, and it wasn't SO long ago (I graduated in 2002). It's completely mind-blowing to me to imagine paying $50K/year.
The fact that I graduated debt-free meant that I could kind of pursue whatever made sense to me. I ended up making the (not very economical!) decision to go to graduate school in the history of science and to study nuclear weapons history.
Would I have done such a thing if I had a large debt burden? I doubt it. What would I be doing now? I have no idea. I think my current career path would have been impossible for me if I was an undergrad today, unless my parents had been substantially more wealthy.
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