You may want to talk to him more in depth about your current finnaces. When I was applying for college my parents told me not to look at the tuition costs because they would take care of it. I knew that they had a (very) small amount saved and would be paying for my tuition primarily through loans the way they had for my older siblings. High school students, however, have no concept of money. Even if they've had jobs and have dealt with their own money, it's very difficult to understand how much of an annual salary actually comes home in the paycheck, how much needs to go toward housing and necessities, how much you're putting toward your credit card debt, etc. If I could go back, I would have worked more, interned, co-oped, or found other ways to bring in money so my parents wouldn't need to take out as many loans. (I wouldn't choose a different school for a variety of reasons, all of which are beside the point here.)I think that paying off your current debt and saving for your own retirement is more important right now than paying for your son's college, but it might help him to understand if you can show him where your money is going now and how difficult it would be for you in the future if you took out loans for him. I would also echo LBC Teacher and caution you about helping one of your children with college and not the other. I wouldn't say not to do it, but maybe start a college fund for her and a smaller fund for him that he could put toward a house or paying down his student loans. Or maybe if he needs to take out private student loans to cover the difference (evil though they are) you could help him pay the interest on them until he gets out of school.Penny Pinching Professional recently posted..