Is an Ivy League Diploma Worth It?

Interesting article. It is great to see it is not another - "I am $100K in debt over a BS degree and no one told me I would have to pay it back" story.

Is an Ivy League Diploma Worth It?

"Mr. Schwartz says his family could have afforded Cornell's tuition, with help from scholarships and loans. But he wants to be a doctor and thinks medical school, which could easily cost upward of $45,000 a year for a private institution, is a more important investment. It wasn't "worth it to spend $50,000-plus a year for a bachelor's degree," he says."


"I have to grow up. I have to incorporate what I want and what I can have," he says. "Even though people say money shouldn't be everything, in this situation, money was the most important thing."

Generation Jobless: Is an Ivy League Diploma Worth It? - WSJ.com

 

"Is an Ivy League Diploma Worth It?"
Personally, I don't think so. However, I do recognize that it depends on the specific situation of individuals. For some, an Ivy League diploma, with their connections, is a must have to basically work anywhere they want. For others, no matter how big the name of the school is, sadly, nothing will change or work out for them. This may be due to a combination of factors such as race, background history, financial history, personal abilities, medical history, etc. Ever wondered why some with Master's degree in engineering, for example, end up driving cabs? This is why attending a big name school or paying for very expensive degrees is not for everyone.

 

I agree with Cyber, that's why I have hesitation with Columbia University's Doctor of Engineering Science. Even though I have one year Free tuition from the VA left; therefore, still have take out some loan, and I am not sure if the loan worth for a degree from Columbia University. As so far, I have zero student loan for my degrees from Troy University, Southern Methodist University, and Georgetown University. I just don't want to end up having $50,000.00 loan.

 

As with most questions, I suppose it depends. There are a lot of factors that go into the choosing of a college (at least there'd better be) and for those lucky enough to be considered for Ivy education, whether or not it is "worth it" would be at the top.

For some, it works...others it might not.

Kudos to the guy deciding against getting an expensive BA degree.

 

I'd say that it's worth it if you're not the one paying the bill.

 

An important factor to consider: Ivy League schools have some of the most generous need-based aid programs in the country. If you can get in, your actual cost may not be that much higher than local state U.

 

Two types of people should go to Ivy league schools. Those who have a LOT of money and tuition is a cost equivalent to gas prices to the rest of us, and those who are in the right socioeconomic group to get a full ride.

 

I think there are fields where the pedigree of your bachelor's is a big issue. Finance and law come to mind there, and in those cases, an ivy league degree might be worth it. Those with the ivy league degrees might find more open doors in that kind of industry. For the rest of us, it is definitely not worth it.

 

While keeping in mind that it's absolutely possible to get in the right socio-economic group with a little planning regardless of which one you're in now.

 

I do not know how I can put myself into another socio-economic group short of financial suicide.

 

1. Pay your existing bills down to a level where a 40,000 a year family income will take care of your needs.

Not that hard to do over a period of 5 years if you're serious and sacrifice a few, perhaps big, things in the process.

 

Mr. Schwartz has the right idea. Even still, it's on my bucket list

 

Well, I guess now that we've all learned that an Ivy League education isn't worth it.. we can all stop going to Ivy League schools.

 

Wise man. Once your done with your education, $50K towards a condo or house would be a much better investment.

Abner :smile:

 

But I know a few people in Florida - and shouldn't you know a few in California? - who could disagree from hard experience.

 

Is an Ivy League diploma worth it?

Have you ever watched the movie "How High?"

 

I do. But now that the artifiically inflated real estate prices have equalized a bit, there are still some good deals out there. Plus, if a new buyer gets into a good old fashioned 15 or 30 year mortgage without all the weird ballon payments, and the possibility of the mortgate going up to double the payment from where it started, some one could still get into home. Especially someone as responsible and intelligent as TEKMAN has proven to be.

I frist bought my home when the market crashed and people couldn't give homes away cheap enough. Everything went to hell for the sellers. It was a damn good market for buyers like myself though. All the supposed business/real estate experts told me not to sell my townhome, in order to use the money to move up to a house. They told me it would be suicide! Well, I showed them. I sold my townhome without losing any money, and I was able to buy my present home for less than what condos were selling at the time.

Present day - My home is worth MUCH more than what I paid for it. My wife and I refinanced to a 15 year fixed at a crazy low interest rate. This will shave off seven years of payments.

Contrast this with Gary down the street. Years ago he went crazy and decided to get all kinds of student loans because they were going to be the key to his success. Years later? He lives at home with his parents, still paying off his loans. In his case, the pursuit of ivy league degress was a complete waste. The moment he gets a job, he can't get ahead because his student loan payments are so out of control!

So in the end, it is an individual decision. Just proceed with caution.

Abner :smile:

 

It depends on your field, if you are an accountant, the CPA license is the main differentiator so a degree from Excelsior or Harvard will have the same use if your intention is to be in public practice.

The same holds for people working as dentist, MD, optometrist, psychologist, etc. For these professionals the license is the main requirement and the degree can come from any accredited school.

If you are in IT, professional certifications carry more weight than an ivy league degree.

For MBAs is a different story, an MBA from an ivy league school might lead to a salary that is two or three times more than an MBA from an unknown school.

The same goes for University teaching, the name of your school carries a huge weight when searching for academic opportunities.

So it depends a lot what you want to do with the degree.