My daughter is a junior and college costs are scary. A friend's daughter is going to Duke and is paying with tuition and room and board $60,000 a year. After 4 years there will be a sunk cost of $240,000. The Washington Post has this article showing an increase in default rates Well Educated and Flat Broke in student loans.

For ethnic Chinese the name brand school for their children is extremely important and parents will sacrifice an incredible amount for it. This explains the SAT classes, after school classes, and all the other extras and pressures that many ethnic Chinese in the US put on their kids to succeed and go to a great colleges.

Labels: college