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MONEY SMART KIDS
Who Pays for College?
by Janet Bodnar

I have a question about your recent column regarding what responsibility a parent has to pay for a child's college education. You seem to be saying that if a child is accepted to an Ivy League college he should settle for less and go to a community college if his parents won't pay. That doesn't seem right. I feel children should not have to help as much because it's the parents who bring them into the world. They shouldn't have children and then expect them to work at McDonald's for the rest of their lives.

Judging from the tone of your letter, I assume you're a kid yourself. Kids generally expect, with some validity, that they're the center of their parents' universe. But children also need to learn the financial facts of life, one of which is that parents aren't obliged to pay for an Ivy League education, even if you can get in.

In fact, parents don't have a legal obligation to pay for any college education (unless there's some specific court order, as in a divorce decree, for example). Most parents do feel they have a moral obligation to pay for at least part of their kids' education. But their willingness and their means are going to vary. As I said in my column, some will be willing to mortgage their homes to pay for an expensive school, and others won't.

However, it's rare for a child to have to choose between anything so extreme as Ivy League versus community college -- or, for that matter, Ivy League versus McDonald's. Among the other financial facts of life, kids need to learn are how to compromise, make choices and balance priorities.

If your parents can't or won't pay for an expensive private school, you may have to attend a state institution, and there's nothing wrong with that. You often can get an equivalent education -- sometimes better -- for a lot less money. And if you want the pricey private school, you should be willing to contribute. You will appreciate your education more if you help pay for it.

Any education beyond high school -- including community college -- will give you skills to get beyond an entry-level job at McDonald's. At Kiplinger's, we often recommend students attend community college for a couple of years and then transfer to a four-year school. You get the degree you need at a fraction of the cost.