College is not a person's entire life
College is not a person's entire life, It is just part of it. A person's career, marriage, and family are more than a college life. With a good major in a good public school will not end up worse than graduate from a liberal art major in an Ivy school for one’s post college life. If your kid likes science or engineering I don't see public schools like U. of Michigan, UIUC, and UC at Berkeley will get them less prepared than from most of the Ivy schools if not better.
On the other hand, if you are so rich that your kids don't need to worry about to make living themselves, then go to an expensive private school major in english, history, philosophy, music, and etc will be great if your kids love them. I am not discriminate these majors, in fact I love to study these fields if I don't need to worry about to make a decent living.
Unfortunately, the world is not an ideal one. Not every major leads to a stable job which you need it to support you and your family. Many people have to work as engineers, scientists, doctors, and teachers even they may like more for writing novel and composing music.