<prompt> Human: Hi PFIm going into college this year. My situation is a little different - Im not from the US, and I have a chance to study locally or go overseas for an education either UK or Aus. I have been weighing the pros and cons of each college, and finances is one of the main things that Id like to know more about.My parents will be paying 100 for my tuition first. If I study overseas, one year of college, including fees, housing, and daily expenses, would amount to around USD40k minimum annually. If I stay in my country and study, it would cost only USD10k tops. Thats a difference of at least USD30k annually, and over 4 years is at least 120k.My question is - what financial situation would justify spending that extra amount of money? Assuming we are paying everything from pocket - no scholarships, grants or loans. From rpersonalfinances point of view, what is a comfortable amount of money my parents should have in the bank savings?A little background: parents are entering retirement; they do have quite a bit of savings in the bank. We have a house, all paid for, with a current market value of around 800k. Current monthly expenses would be around 2k to 2.5k. My heart isnt settled because I dont want them to spend so much on tuition fees, and leave hardly anything for their retirement years. So, PF, could I hear opinion from you guys on how much my parents should have in the bank such that spending 40k a year on my education wouldnt be a problem, and have sufficient left over for their own retirement and expenses?  <response>: This is really a question for your parents, not reddit. If they have done the math on what they have and their lifestyle and your tuition fits in it, go for it. 