That would be nice if they could afford it, but is not a requirement of parenthood.
Depends.
A Masters, not too likely but some parents might.
A PhD. You receive a stipend and are paid for teaching duties.
No. Most people I know are working when the get their masters and pay for it themselves. Or they take out loans.
No, your employer pays for it. Otherwise don't bother. Especially if your MBA isn't from a Top 10. For one thing, the return on investment isn't that great. Second, you're a fool if you pay out of pocket money for it. And finally, all MBAs aren't created equal. It may look nice and fancy among your family and friends, or at some backwater no-name company in the middle of nowhere that didn't pay for it. But selling MBAs has been a lucrative business for bottom tier universities.
You have to understand that the education from the MBA isn't the important part. Most of it you can easily learn on the job in less time. The MOST important part is the networking, and the connections you make with others in the same MBA program. That's why WHICH MBA program you go to is important because it decides which kind of people you're able to network with.