Providing wants and not needs such as fancy cars, designer clothes and ski trips is a great way to lessen their motivation and lower the work ethic. A parent's gift of an education can not be compared to what's in or not. It can never be taken away or broken. It does not go out of style. It leads to self-sufficiency and contributes to a better society.
More educated parents provide more educated offspring.
I will pay for my own childrens college if they go.