I am NOT paying for my kid's college. If you take the money aspect out of it for a second, think about how horrible it would be to blow a ton of money on your kid for college only to have them flake out and get nothing out of it, or major in something where there are no jobs and the degree is worthless. That could destroy a relationship. Not saying it would with me, but the potential is certainly there.
If I am fortunate enough to be in a nice financial position when they are in college and I am able to help a bit, that's one thing, but mine and my wife's retirement comes first by FAR.
Barring scholarships, I am going to do what I can to advocate for community college for two years for all the general electives that go towards 99% of the majors out there, or even some of the programs where you can get an associates in two years and start work right away, for example, as a registered nurse. Then go back to school while working and have them pay for it.
An education is great, but I don't think it trumps a lifetime of debt to overcome. That, and the combination of community college, work, and then furthering your education while working (or even taking time off for accelerated programs) is also a very nice education.
Bottom line, my kids co do whatever they want. However, if they want MY help, they won't be going to an expensive 4 year school right out of high school, and I will be doing what I can to educate them about the risks of doing so along with the benefits of alternative routes, while telling them to read up about these things themselves.