Any person in the world can tell you their parents have always dreamed of them one day attending an Ivy League School. The best education, the most prestigious name; why wouldn’t a parent hope their children make it there one day?
Once upon a time, Ivy league schools guaranteed a job. It meant you were the best of the best in your field and you could run with the big dogs. But, is that still the case?
Which is better? Finishing in the middle of your class from Harvard or finishing at the top of you class at a school that isn’t classified as Ivy League?
What about student loans? Sure, Ivy League schools give out scholarships, but so do many other colleges that can provide an excellent education.
The going rates for tuition at Ivy League Schools are as follows as for Fall 2016:
- Dartmouth University $55,365
- Cornell University $54,645
- University of Pennsylvania $53,976
- Brown University $53,136
- Yale University $52,700
- Harvard University $52,650
- Princeton University $49,069
With an Ivy League Education you’re looking at a minimum of $200,000! That’s without continuing your education for Master’s or a PhD.
Is there enough funding to make sure you don’t graduate with a mortgage at the end of your college career?
The job market is tough for everyone right now. Companies are having cut backs in order to have less employees and they even pay those employees even less. Graduating with Ivy League credentials comes with a certain precedent that you’re going to be getting paid more than someone who graduated from a non Ivy League school; but if companies are no longer willing to dish out the mega money, are you just hurting yourself?
State Universities are providing excellent educations at a fraction of the cost.
- Rutgers University: In- state: $11,217 per year. Out- of- state $26,607- $30,389
- Alabama State University : In-state: $18,286 Out-of-state: $25,222
- Georgia Tech University: In- state $9,12 Out-of-state $30,004
- Texas A&M University: In-state: $9,428 Out-of-state: $28,021
- University of Maryland: In-state $10,181 Out- of -State $32,045
Each of these colleges offer an excellent education and have a medium income at about $50,000 for their students after they graduate.
Ivy Leagues may look better on paper, but tuition also doesn’t cover whether or not the student joins a Sorority or Fraternity, books and supplies, housing on or off campus, and everyday living for the student.
The Ivy League’s bill just keeps adding up. Now, what if you didn’t go to the best Ivy League? Is Harvard better than Yale? Is Princeton worse than Dartmouth? Ivy league isn’t as cut and dry as it seems.
You also need to consider the career you plan to apply your education to. If education is your passion and you want to be a teacher, is the education you’re going to receive from an Ivy League school really much better than a school that specializes in education?
Are you willing to put yourself in hundreds of thousands of dollars in debt knowing your salary in most places will start out below 40K and may cap out at 60k?
If you’re going to be a lawyer or a doctor, maybe Ivy Leagues helps. But if you’re going to be a writer or work in public relations, why would you allow yourself to drown in debt that you may never be able to pay back.
The truth is, we live in a time where student loans are halting Millennials from starting their lives and there seems to be no relief in sight. The cost of living keeps rising and work life balance keeps disappearing in Corporate America.
Think long and hard before you decide to embark on an education at an Ivy League or any astronomically priced university for that matter. Be smart, be strategic. College is suppose to prepare you for the real world, not stop you from living in it.
Sources:
https://www.ivycoach.com/the-ivy-coach-blog/tag/ivy-league-tuition/
https://studentabc.rutgers.edu/tuition-and-fees
www.alasu.edu/cost-aid/tuition–costs/index.aspx
admission.gatech.edu/afford/tuition-fees
www.collegedata.com/cs/data/college/college_pg03_tmpl.jhtml?schoolId=759
