Some parents got no money to retire on as they help cover college costs!?
T. Rowe Price: Many Parents Short-Changing Their Retirement to Cover College Costs
Bottom line: Perhaps responsible young college-bound students - and all college students - can reassess their choice of college and how much its total cost will be to overall family finances, not just on them but on their whole family: Mom and Dad, siblings, others. If the burden is too great, seeking a less expensive schools that can deliver a quality education with greater financial aid might be the wiser choice for all in the long run. And college students might also determine what the net return on their total college investment will be for the major chosen and rethink the choice if it fails to deliver what's needed to live and to pay back student loans...