My parents both went to Michigan and my brothers and i all went there. None of our kids have gone to Michigan and my son, a senior in HS, is the youngest of the generation.
He has been admitted to (in alphabetical order): Maryland (in-state), Michigan, North Carolina, Southern California, Tulane and Wisconsin. Maryland and Wisconsin are definitely out of the picture. Here is the cost of one year's tuition and fees and room and board at each of the schools.
Tulane - $29,000 (after scholarship offer)
North Carolina - $34,000
Michigan - $46, 000 (fincreases for third and fourth years)
Southern California - $52,000
He isn't sure about major but thinking of History with a minor in marketing.
We can afford to cover UNC without him incurring any student loans for undergrad and without me taking on any debt. Michigan would probably require taking on some debt and perhaps delaying retirement for a year for me.
North Carolina is closest to home - about 4.5 hour drive. MIchigan 8.5 hours. New Orleans and Southern Cal - no realistic driving option. (Maryland is about 15 minutes from home, which is why it is out of the picture.)
(There are emotional ties to UNC as well; my wife and I met there during grad school. She went to UC Santa Cruz undergrad.)
How much more would you be willing to pay for your kid to go to Michigan in these circumstances. Assume he really likes Michigan, but really likes the other three options as well.