More students are choosing more affordable universities and choose to commute instead. Community college is very common lately. How far would the sacrifice go?
Wednesday, November 9, 2011
Is an Ivy League Diploma Worth It?
With many news about student loans and student debts many qualified recent high school graduates decide to enroll in public universities rather than private prestige universities. A young high school recent graduate chose to go to City University of New York's Macaulay Honors College for free rather than going to Cornell because he doesn't want to be in debt even though he's from a middle class family. Many high school student chose that path since the unemployment rate is very high. They thinks that they can go as far as other students who goes to an elite school. But you need to sacrifice since its harder to get into the classes you need in order to graduate in time at a public school because there are more students there. When the young high school graduate finally enrolled at the City University he wasn't happy there but what can he do. He already made his decision and sacrifice.
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Interestingly, I read a article from Forbes magazine stating that unless a student was looking into any type of major graduate work, that the university a student chooses for undergrad doesn't really matter. As always though, its important to enjoy the place you are going to school and living your life for four years.
ReplyDeleteThis is a great article about how acquiring human capital tendencies is changing to the changing economy. I wonder what the transfer rate has been from private schools to public or community colleges in the past 5 years compared to years prior.
ReplyDeleteI know a number of students from my high school who applied religiously to Ivy League schools, only to be rejected and attend other public or private institutions with scholarships, but institutions that were still very strong. I think a lot of people want the Ivy League degree for the name, and it's very practical in this day and age to choose a less expensive option where you will still get a good education. Your chances of employment will hardly be lower.
ReplyDeleteI think an Ivy would be a better decisions. In highly competitive industries, like investment banking for example, the entire applicant pool consists of only students from from Ivy's, and not tens, but hundreds of them. That is the pool they choose to employ from. I know this for a fact.
ReplyDeleteIf one has to choose, it's probably better to go to the elite school for the graduate degree, assuming that one can be certain to generate the grades to get into the elite graduate program at a third or fourth tier school. It also depends on what one intends to do for a career. To be a family practice doctor, it probably doesn't matter much at all. To be a surgeon catering to medical tourists with hard currency, the name of the school one attended is likely critical. The name of the school where one got the highest degree on which the graduate is trading will probably matter if the student realizes that his best opportunities will be abroad and is intending to pursue such opportunities. People in Shanghai or Singapore will have heard of Harvard and Stanford, but haven't heard of Hunter College or University of Southern Florida.
It is pretty sad to hear about it but it is true. I also know some students transfered to some other cheaper colleges last year. They were not willing, but have to only because of the financial reasons.
ReplyDeleteCollege is almost the most decisive choice in one's career and life. If so many young high school graduates are abandoning their dreamm and turn to community college, the policies concerning to the student debts really need to be advanced.