Facing shrunken savings and borrowing options, parents and students are making some tough trade-offs in choosing and paying for college, suggesting some shifting attitudes toward higher education may endure beyond the recession.
Old dreams of adult children earning degrees from elite, door-opening colleges or "legacy" schools attended by relatives are falling away in some families, in favor of a new pragmatism. Other parents and students are doing a tougher cost-benefit analysis of the true value of a pricey undergraduate degree. As parents wrestle privately with such emotional issues, many say they wish they'd begun years earlier to assess their values and priorities, long before their children's college-decision deadline was upon them.
Mustafah Abdulaziz for The Wall Street Journal
Throughout her childhood, Sarah Goldstein imagined attending New York University, says her mother, Rose Perrizo of Sharon, Mass. Sarah's grandmother is an NYU alum; Sarah lived near campus with her parents when she was small. "In her mind, Sarah was always headed there," Ms. Perrizo says.
| Newsletter signup | Send us your ideas