First of all, its half a million dollars for some medical programs in certain countries, but going to say Harvard, is about USD45K/yr or $250K for 4 years. Many Singaporeans finish in 3 years if they have A-Levels. These are not small sums to anyone, including me.

I'd also disagree that wedding, homes, cars are the same as an education at a top school. Its like the difference between investment and consumption. Also, admission to some Ivy Leagues like Harvard is need-blind i.e., if you don't have money, the University will pay your tuition and living expenses. However, if you have a rich father who refuses to pay, then you are really screwed since the University will not help you out.

I think this thought of building up character, like the way you might have been brought up poor, is a bit of a macho thing and not healthy. Just because you struggled through life, you want to impose the same pain on your children so they wont be "spoilt". I think that is terrible. These are just my values. Good day.