While I understand your point about the top notch Ivy League schools, I have to disagree. Ok, maybe not completely disagree but I'd certainly have to think long and hard about it.
Free education at a highly respected in state school vs. $42,500+ per year for out of state at Harvard (tuition, room & board, books and supplies cost listed at
http://www.collegetoolkit.com/Colleg...d/166027.aspx). Of course that's without any financial assistance that may be available and accumulated savings which would have to be factored in to the decision.
I don't know what my Hubby, my son and I would decide if we were in this situation. I don't want to see my son saddled with massive loan payments for the rest of his life. Nor do I want to jeopardize my Hubby's and my future by taking on massive debt as we near retirement age. We're not planning on retiring in luxury. We simply don't want to end up in the poorhouse and have to rely on our son to take care of us financially either.