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About the study, here is what the author specifically state: "Because we do not have a fully representative sample of college applicants, we rank only about a hundred undergraduate programs and our ranking is an example, not definitive." Once again, the object of this study is not to get a ranking, but to establish a ranking methodology. IT SAYS SO ON PAGE ONE. If they wanted to carry it a step further and actually get an accurate picture using their methodology, they would have gone about and build a more rigorous data set. As I've indicated above, one of the authors actually repudiated the use of that paper as an actual ranking, as opposed to a new ranking methodology.
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<p>Sure, it's a ranking methodology. Just like USNews is, at its core, a ranking methodology. Just like THES is. Every single study out there is just a methodology. Nor is any study 'definitive' - not the RP study, not USNews, not THES, not Shanghai Jiao Tong, not Gourman, not any of them. What's the point? </p>
<p>The point is not to religiously adhere to any particular ranking or ranking methodology, but to obtain useful information from all of them. </p>
<p>At the end of the day, the RP study is still at least as 'definitive' as any of those other studies out there. You say that the RP is not definitive. Sure, it is not. But is THES (a study that you like) definitive? Which study out there is? Hence, the RP study is at least as good as any other out there, and in many ways, it is actually better. </p>
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So Princeton graduates paid tens of thousands of dollars in extra tuition for the privilege of earning $5,000 more after they graduate. You don't need to have an MBA to determine which group is in better shape financially...
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<p>How so? First off, the vast majority of Princeton students are not California-state residents. Hence, they basically would have paid the same whether they had gone to Princeton or Berkeley (because they would have paid out-of-state tuition). So the REAL calculation, for them, is whether they pay basically the same amount to earn $5000 more a year. You're right, it doesn't take an MBA to figure out which one is the better deal. Very easy calculation for them. </p>
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Considering as well the fact that the average family income of students from Princeton is at least twice as bigger as that from Berkeley, Berkeley does a remarkable job of providing a professional launchpad for its graduates.
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<p>And you just gave it away right there. If you're rich, even if you're from California, you probably don't care much about the difference in costs between Berkeley and Princeton anyway. If you're a multimillionaire, saving a 5-figure sum just doesn't really matter very much. </p>
<p>And again, if you're poor, frankly, you will probably get better financial aid from Princeton than you will from Berkeley. For example, Princeton has declared that no financial aid they give out will be in the form of loans - it will all be either in the form of grants or work-study. Does Berkeley make that promise? I don't think so. Hence, if you're poor, you are actually likely to end up with more debt going to Berkeley than at Princeton. Again, easy calculation. You don't need an MBA to figure out which deal is better for poor people. </p>
<p><a href="http://www.princeton.edu/pr/news/01/q1/0127-aid.htm%5B/url%5D">http://www.princeton.edu/pr/news/01/q1/0127-aid.htm</a></p>
<p>So, REALLY, what you mean to say is that perhaps Berkeley is a prime financial deal for the ** California middle class **. But that represents only a tiny minority of the overall population of the country. Keep in mind. California has only 11% of the nation's population. And we're just talking about the middle class of California, so, really, we're probably only talking about 5-7% of the entire population of the country. If you're from another state (which is 89% of all Americans), then Princeton and Berkeley will cost basically the same. Even if you're from California, if you're rich, you probably don't care about the cost difference, and if you're poor, Princeton may actually be a better deal. Hence, really, only a tiny percentage of the overall national population actually benefits from Berkeley. </p>
<p>And, again, why do I talk about the national population? Because, again, Princeton draws from a national population. The vast majority of students at Princeton are not from California. Can you really justify to somebody coming from New York or Florida or Texas why Berkeley is a better financial deal than Princeton for him?</p>