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What major? Unless it is one of the good ones, probably not.
Also depends on the school. Some schools can offer generous financial aid so you won't have as much debt.
You have to define worth for yourself.
Is it worth it to put in all of the training you do without receiving any pay?
Not financially but you may value it.
You may not get your return on investment with the loan but may value the experience and connections.
Ask Wejo and Rojo. Both went to Ivy League schools and are now co-owners of an Internet empire! Looks like it turned out pretty well on their end!
All of my degrees have come at state schools but I am familiar with the idea that a degree from an Ivy school and the connections you'll make will set you up for a life at the top and the fabulous wealth that comes with that life. But of the people I know with degrees from Ivy schools the vast majority have been school teachers or principals, one had a few civil service jobs before quitting to be a full time parent, one became a priest, i.e. none of them are doing anything that people who graduated from Shippensburg with me aren't doing. And Shippensburg has produced a few corporate presidents and the like as have most other schools.
So yeah, you've got your presidents and cabinet members coming from Yale but the odds are that if you have the Ivy degree you'll end up with a job that you could have gotten had you gone to U. Mass or Butler or pretty much any other accredited school. Were I in your place I would start with that assumption and ask myself if I want to take on that sort of debt for the experience of an Ivy education.
No, but an Ivy League social network is...
over a lifetime, quite possibly (worth it)
the reason?
you can major in gameboy and have a crappy GPA at an Ivy and get hired at top firms
not so at other colleges/univ
Get in Harvard Yale or Princeton and debt is not an issue. The question needs to be rephrased differently.
fomer serious runner wrote:
Get in Harvard Yale or Princeton and debt is not an issue. The question needs to be rephrased differently.
First of all, this is not true. Believe me. No one cares that you went to Harvard when you are 25 years old. At that point it is all about your work experience.
Second of all, is that all it costs these days? It has to be more than that.
The rule of thumb is to never, ever take out more in loans than you'll make in your first year when you're done with your program, be it undergrad or graduate school. People taking out $200,000 to go to law school when they are going to make $45,000 when they graduate... bad idea.
Not every Ivy league is outragously expensive. Yale's tuition is based on need. They have many students each year who's family is well below average income. I would argue that private schools like Notre Dame, Stanford, Duke, etc. cost way more than Yale. I know for sure that BC, Carnegie Mellon and USC cost way more than Yale. That's for sure.
i think the OP put the 60,000-80,000 debt figure out there because he already has financial aid offers from ivy league schools, so let's stop debating how much it's going to cost him.
i think it's worth the debt if you get good grades. it will make networking easier, and there are some top firms that only hire from ivies or schools of similar rank.
if you're one of those top recruits that needed a lot of help from the coach to get in, you need to drastically change yourself as a student and be really conservative with the difficulty of classes for first year.
if you get bad grades, just find a rich, smart girl and marry her. debt problem solved!
I would imagine it depends what the alternative is.
If the OP is actually in a situation where he's determining whether or not to go to the Ivy and take on the debt, it would be more worthwhile if he filled us in on what his alternatives are.
Is the caliber of education SO MUCH BETTER? Probably not. But this happened to a buddy of mine- his twin sister had ivy undergrad, then went off and did a physicians assistant program at a school that was good, but certainly didn't have an Ivy rep. She walks into her first job interview, and the doctor at the private practice, looking over her resume, goes "oh, hey, you went to Columbia, eh?" She goes "yes, that's where I did my undergraduate work." The doc goes "yup, I'm a Harvard man myself. Of course, some Ivy is better than no Ivy. What are they paying you people these days?"
I'm not saying you can't work hard and get a great education elsewhere for less money. However, the alumni network at an Ivy is just. . . yikes.
That being said, though, personally, I would have gone crazy at an Ivy, been miserable, and probably not learned a damn thing. My buddy with the lucky sister? He went to Brown for a year and transferred to the medium-sized state school in his home state. All the connections in the world would not have convinced him to stay there another 3 years. He just wasn't a great fit there, and he's much happier (and more successful!)having been honest with himself.
it completely depends on what you want to do as a career.
if you plan to go to law school or medical school, for example, your undergrad institution's name means relatively little.
if you want to go into investment banking straight out of undergrad, going to an ivy league school is nearly essential.
if you want to go into politics, you'll on average make far better connections at an ivy league school (but at the cost of firming up connections to your hometown / home state).
if you have no idea? well then it's a gamble. you'll receive a great education at an ivy league institution. you'll meet really smart, talented students. the same is available though at many other schools and if you obtained admission to a top ivy school, you could probably attend a state honors college or program for far less money.
unfortunately (or maybe fortunately) no one can tell you precisely what the experience is worth in advance.
Not Sure - I have kids at HYP. I am full pay, but loans are not part of their financial aid packages, although it is possible to have some debt incurred. But debt is really not an issue at HYP.
It depends on why the OP put the figure out. As an Ivy Leaguer myself, no, it's not worth that much debt.
But are you saying that you will be 60-80K in debt at the end of this, or do you just think you will?
Because no Ivy League school I know will have any undergrad in that sort of debt. So I really doubt that you would be that much in the hole. The highest any of my friends are in debt is $15K, and that's the worst case scenario. I have zero debt. My college was actually much less expensive than my state school.
I have never known anyone who graduated from an Ivy League school and did not make at least six figures in their first year out of school. But then again I have never known anyone who graduated from an Ivy League School.
The fact you asked that question indicates you are not worthy of an ivy league education.