My son goes to an IVY school because he decided to apply to a special program. The kids can probably make more money TDF than going to IVY school. It is an expense, not a necessity.
I used to think that I would ask my children to work or get loans when they go to college.
In reality, the workload is pretty heavy at top schools and the interest of the loan he can get is higher than what I can get. He has a roomate who get cloth-washing service, and sometimes he needs to go to expensive social occasions as well.
I am paying $60K/year, expecting $250K for four years. I pay the tuition/room/board and he pays for his social outings. Tuition is interest-free loan from me.
I have more than one child, so the burden of tuition is heavy duty on me. I almost bought a large house last year, but decided not to do it.