I wish my parents had been more open with me about their financial situation when I was doing applications. Basically they were all "these places are expensive, but if you *really* want to go there we'll figure it out". After my first year at a semi-expensive school, they revealed that "making it work" meant "you will take out loans". I did some math and quickly transferred to a much cheaper (and better) state school. Seriously, if you give your kids an accurate picture of what's going on, they are capable of making good decisions.