How is my logic off?

<p>Why would someone send their son or daughter of Yale if they could send him or her to a state college probably for free(scholarship)or at a much lower price? The cost of going to Yale is $40,000 per year x 4years = $160,000.There is not much difference in the starting salaries between a ivies and state schools. For example a undergrad in education at Penn would prob earn the same as a undergrad in education at a good state school.I was accepted to UPenn but declined because I got a full scholarship to Rutgers ......But my logic might be off .Many parents give huge gifts to Ivy League schools($100,000+) to ensure their son or daughter is admitted.Why??Economically it does not seem to make sense.There must be a reason why.Is it prestige maybe?</p>

<p>Your logic isn't really off - it's just incomplete. When you buy a college education you are buying more than just your job prospects and starting salary of your first job. You are also paying for the experience itself - the professors who teach you, your fellow students with whom you interact, the facilities in which you live and study, the brand name of the school --> which is another way of saying prestige.</p>

<p>Some people, in fact many people, are willing to pay a premium price to attend what are widely regarded as the best colleges, despite the fact that it probably won't make a big difference for most careers. </p>

<p>And this willingness to pay a lot more for brand names extends way beyond just colleges. A used Toyota Corolla will get you to work or to the store just as well as a new BMW or Lexis will, but many people still want the Beamer.</p>

<p>at yale u are going to school with illuminati and sons and daughters of fortune 500 companies.</p>

<p>it's rare at a lower tier.</p>

<p>so is rhyming rhyme with rhyme.</p>

<p>What you said make a lot of sense. I see your point.There several non quantitative characteristics of Ivies that enables them to charge a premium. Theese qualities (experience,professors fellow students, facilities) let the students have a once in a life time experience. At Rutgers ,im a commuter student. It can best be described as minimally sufficient in regards to (experience,professors, fellow students(unmotivated studentbody), facilities).I guess thats the trade off for giving up UPenn to Rutgers for almost free.</p>

<p>First, let's straighten out the misconception that giving a certain amount of money can ensure that your child will get into an Ivy League school. If your child is not in the range of qualified applicants, he or she will not get in, regardless of how much money the parents have donated. To the extent there are students viewed as "development" candidates, I would assume it takes a whole lot more than $100,000 to be considered as such and that only few applicants each year fall into this category. Again, they will not be admitted lacking solid credentials.</p>

<p>Second, whether paying for a Yale education is worth it depends on your individual financial situation and your personal priorities. For the record, I'm an alum and everyone I know would take out the loans, etc. and do it again.</p>

<p>Finally, why would anyone pay for an Ivy League education instead of a less expensive option? I can only speak for why one would pay so much for a Yale education. Prestige is certainly a motivating factor, but there are deeper reasons why Yale is worth the money. They are excellent professors and intelligent, ambitious students at every college in the country, but they is a higher concentration of both at certain schools. Yale is positively bursting with an energy that I have never felt on another campus. So many professors I had at Yale absolutely ROCKED MY WORLD. The student body is brimming with enthusiasm. I learned so much from late night conversations in my dorm room or over beer and pizza from my ridiculously intelligent and articulate peers. Not that these people didn't know how to have fun, contrary to what you might think, Yalies do know how to party.</p>

<p>There are so many traditions (think fun, not elitist traditions) that instill a sense of belonging to something larger and more important than just your typical college. This manifests itself in an awesome network once you graduate. Most Yalies loved their experience there and you have an automatic bond with everyone else who went there. While many colleges have loyal alumni, going to a place like Yale gives you access to high powered people all over the world, not just locally. And the prestige thing certainly helps in the adult world where a lot of people will give you a shot because, hey, you went to Yale so you must be something special.</p>

<p>The residential college system at Yale is slightly different from the few other colleges that have a similar system. The residential college is at the heart of most people's Yale experience. Outside of my family, the people I love most in the world are my friends from my residential college.</p>

<p>Those are some concrete reasons why Yale is worth it, but there's an intangible quality to the place, most tangible in the energy and school spirit I described above, that I would pay almost anything to experience again.</p>

<p>well said admissions addict</p>

<p>Hi Shawn,</p>

<p>I certainly believe a strong case can be made for picking a state U over an expensive top tier school such as Yale (or Williams or Michigan out of state). Overall, I agree with a lot of your comments ... although I would say it differently; strong motivated students will do well whether they attend Yale or State U.</p>

<p>That said, I believe the onus is on you to prove this on
[quote]
There is not much difference in the starting salaries between a ivies and state schools.

[/quote]
. I do not believe that one ... from my experience, top tier school kids are way-way over-represented in the plum jobs desired coming out of undergraduate school such as analyst at top consulting firms, investmant banking, management development programs, etc ... in addition, top tier school kids are way-way over-represented at top grad schools. A student can get there from State U but they will need to really stand out at State U. </p>

<p>The "value" of a top tier school is a very individual thing ... and I certainly see the argument for saving some bucks and going to State U ... I also see the arugument for making a bigger investment for a top tier school. Hopefully, each student makes a good decision for her/himself and their family</p>

<p>My intended major at Rutgers is Accounting. In 7-8 years(with a CPA) I could earn 70-90k plus. In in fifteen years , I could end up becoming a partner (big money) <a href="http://www.hollandcpasearch.com/survey.htm%5B/url%5D"&gt;http://www.hollandcpasearch.com/survey.htm&lt;/a>. Only Law student,Med student,Business majors and a few others in general will make the big money from a Ivy league school. Compare the Accounting majors stats to UPenn's stat for Grad students <a href="http://www.vpul.upenn.edu/careerservices/gradstud/gsas2004survey.pdf%5B/url%5D"&gt;http://www.vpul.upenn.edu/careerservices/gradstud/gsas2004survey.pdf&lt;/a>. No comparison, accounting wins. Wharton stats are non that
to impressive compared to the Accounting stats. <a href="http://www.vpul.upenn.edu/careerservices/wharton/surveys/Wharton2004Report.pdf%5B/url%5D"&gt;http://www.vpul.upenn.edu/careerservices/wharton/surveys/Wharton2004Report.pdf&lt;/a>. I understand money isnt everything, Im just make a point.</p>

<p>My intended major at Rutgers is Accounting. In 7-8 years(with a CPA) I could earn 70-90k plus. In in fifteen years , I could end up becoming a partner (big money) <a href="http://www.hollandcpasearch.com/survey.htm%5B/url%5D"&gt;http://www.hollandcpasearch.com/survey.htm&lt;/a>. Only Law student,Med student,Business majors and a few others in general will make the big money from a Ivy league school. Compare the Accounting majors stats to UPenn's stat for Grad students <a href="http://www.vpul.upenn.edu/careerservices/gradstud/gsas2004survey.pdf%5B/url%5D"&gt;http://www.vpul.upenn.edu/careerservices/gradstud/gsas2004survey.pdf&lt;/a>. No comparison its almost pitiful(no offense); accounting wins. Wharton stats are non that
to impressive compared to the Accounting stats. <a href="http://www.vpul.upenn.edu/careerservices/wharton/surveys/Wharton2004Report.pdf%5B/url%5D"&gt;http://www.vpul.upenn.edu/careerservices/wharton/surveys/Wharton2004Report.pdf&lt;/a>. I understand money isnt everything, Im just make a point.</p>

<p>For another point of view, see Stacy B. Dale and Alan B. Krueger, “Estimating the Payoff to Attending a More Selective College: An Application of Selection on Observables and Unobservables”, Quarterly Journal of Economics 117 (November 2002): 1491-1527.</p>