How much in student loans??

[WhiteTrashCash]

I borrowed $74,000, but I've whittled that down to about $41,000 after about three years of repayment. I don't recommend letting your children accumulate that much debt. It's quite the millstone around my neck. It did, however, allow me to escape from poverty.

[diapasoun]

I went to an in-state Ivy

What Ivy League university is in California? 

I grew up on the East Coast - came out here for grad school.

Have the kids apply to the places they're interested in, including cheaper options, and see how it shakes out. My Ivy ended up being the same price as one of the state schools.

I'm near the end of my career teaching high school seniors, and -- in my fairly extensive experience -- the expensive school tends to end up being the most expensive school.  The "you can go to this private school for less than the state school" happens just often enough to keep people trying to make it happen.

I tell my students:  If you're dying to attend (insert expensive school here), apply to it -- but, at the same time, apply to at least two schools that're more realistic for you financially.  AND apply to a safety net school -- a school you could afford if absolutely nothing goes your way.  If they do each of these things, regardless of whether grants/scholarships come though, they'll have a good variety of choices.

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This is good advice - there's no guarantee a school will provide sufficient aid to make a big change from the up front ticket price, and that's something the kids should know, too. I basically pursued that strategy, and was pleasantly surprised when the school I really wanted to go to was one of the cheaper ones.

There are definitely differences in aid philosophies at different schools.