<p>I started at a small SUNY campus and finished at an ivy...essentially grew up in a "small world" where one didn't even consider applying to a private school. Nevertheless, I always wanted my kids to to experience a "big world" and have opportunities that I could only dream about.</p>
<p>That said, I have had numerous conversations with parents of kids at national elites or very good LACs and when asked from their perspective is it worth it there is a general lack of endorsement. For the most part many attended public colleges themselves but opted to send their kids to private schools. And these are great schools by any measure, Princeton, MIT, Notre Dame, Williams, Richmond, Lafayette, Franklin & Marshall, Union, Dickinson, Gettysburg, Ursinus, Hampshire.</p>
<p>So those of you out there writing checks for 35 to 50k a year are there schools out there that you're absolutely convinced that it's worth it?</p>
<p>well, we did do that--wrote the check for Middlebury. A 4.0 amazing D who took advantage of everything offered. Was it worth it after paying $140,000 plus books and travel? I seriously do not know. She would say yes. She had an amazing education and, Yes, she is educated in a way that very few are in our country. She is truly educated, not just smart. She was very diligent in her studies and in her own personal development. Now we have an upcoming HS grad who test for test matches his Sister. However, his interest in being Educated is just different. Plus, with our age and the economy, we are being more careful with available funds. Would we do it again--well yes for one and no for the other. And I started and an LAC and transfered to a State U--so know the difference.</p>
<p>You would have the conviction (as a parent) to do it again, that is, place between $140,000 to $200,000 cash on the table, even if someone called for a "do over."</p>
<p>I went to a fourth tier catholic school for undergrad and ND for grad school and did not feel there was much difference in the quality of teaching. The students at ND came from families with more money though.</p>
<p>My very talented son chose a full ride at Penn State and has more awesome opportunities than he has time to take advantage of. He has had some great teachers and there is enough research to choose from. Kids in his program end up at Ivy's for grad school if they want it. Glad he did not choose Cornell, Duke and Swarthmore. Our finances are tight enough as it is.</p>
<p>I wouldn't put all my life savings into the kids (like a 3rd world family would to send one child to the USA to drive a cab and start bringing over the rest of the family).</p>
<p>But, with Harvard's Financial Aid policy (max 10% of income towards college), it makes the cost manageable. $50k if I was making $50k/yr, no way. $50k if I was making $500k/yr, why not?</p>
<p>H and I attended a state school undergrad; he went to an Ivy for grad school and I attended a state school for grad work.</p>
<p>We had our kids apply to both state and private schools. D graduated in '06 from Smith. We feel it was absolutely worth it for her. It is unlikely she would even be in the field she is in (which has worked out wonderfully for her so far) were it not for the individual attention and mentoring she got at Smith. (A prof she ran into at the gym suggested her major based on a class she had taken with that prof.)</p>
<p>S is now a first-year engineering student at an LAC. That combo is only available at a few private schools.</p>
<p>We were full pay for both, and for us it has been a major commitment. Frankly, now that we are older, closer to retirement, and the economy is so scary, I am not at all sure we would have had the confidence to do this again, were we to be making the decision in this environment. But for our particular kids it has worked well so far, so we do not regret it.</p>
<p>One can get the "big world experience" without the price tag of the big world.
I have seen plenty of MDs in my line of work who graduated from small no-name schools around the world (Russia, India, China, Argentina.. you name it!). They all work next door to each other, pursuing the very same R&D that MDs from Cornell and UPenn are pursuing.</p>
<p>It entirely does depend on one's aptitude and intellect. Both shine through your work and the way you address problems in day to day life. </p>
<p>Having said that, I feel that one can still get the 'big name experience' on your CV, if you do a post-doc in a big place or work in such a place. These experiences can resonate with a hiring manager if they happen to be from the very institutions. The best part is that you don't have to spend $200-400,000 in the process.</p>
<p>By the way, this post is coming from a "Third World immigrant" who pursued graduate education in Pharmacology, married another "Third World immigrant" who also completed a PhD, with both of us pursuing high level Drug development in industry and did not bring any other family members from the country of our origin.</p>
<p>For both my sons, the jury's still out. One is prepping to go to grad school (already graduated from private LAC); the other is a sophomore at an Ivy. I do know that when I toured this particular Ivy with him, I was dazzled, and I remember thinking -- clear as a bell -- "Now, this is worth $200,000!" </p>
<p>In our personal family experience (including my siblings), top school education and probably connections have served us well, and that's probably why we would continue it for our own children. My sister went to Dartmouth for undergrad then Stanford for law, that's where she met her H. She's had some amazing jobs, taken some time off, but always able to get another job whenever she wanted it. My brother went to Cornell for undergrad and Dartmouth for MBA. As an expat around the world, he has used his alumni connections for work and personal. He said in the expat community the first thing someone ask is "what school did you go to?" then "who do you work for?" In HKG, there is the Ivy Ball that most of them attend. I am the black sheep of the family (Colgate), but have gone out of my way to help new graduates from the school. I have been very lucky with my work, but my college experience was a life changing experience for me.</p>
<p>We are first generation immigrants. Without going to those top schools, I don't think we could have done as well financially (I guess that's our measurement). I am glad my father decided to put everything he had into our education. He had 3 mortgages out at one time even though we were on financial aid. He was very close in losing our home at one time. My father would say he would do it all over again.</p>
<p>We paid retail to send D1 to a big-name Ivy, and it was definitely worth it to her. She loved the place and her experience there. And I suppose it was worth it to us too, since we are prepared to do it all over again for D2 - provided she gets admitted.</p>
<p>Absolutely worth it - for H, for me, and so far, for our oldest child. And we're doing it all over again for #2 (same school as me and #1), so nothing but an emphatic YES from our household.</p>
<p>I really appreciate everyone's take on this question, since I probably will be struggling with the same question once all the decisions are in...</p>
<p>OperaDad - now how great would this world be if every school took Harvard's lead and used that 10% rule? I would be able to send my child anywhere she wanted to go...guess I have to keep dreaming!</p>
<p>I would do it again in a heartbeat - and not for "outcome" measures, so much, as for the experience itself. DS could have gone to a higher-ranked (though not significantly) program at our big state U for much less money than his small private U. We're very happy with our choice!</p>
<p>Definitely worth it to us.
Dd graduated summa cum laude from her Ivy and had her pick of grad schools with full fellowships plus presidential scholarships. Part of her success was due to her hard work and taking advantage of opportunities, but part of it was also due to the connections she made, enabling her to receive letters of recommendation from heavyweights in her field. It's hard for me to imagine the same outcome had she taken the state university route.
Living on the other side of the country and living and working with people from all over the globe provided an experience she couldn't have had even at her flagship state university. Her undergraduate experience enlarged her world, humbled her, and gave her a mature perspective that will serve her well.</p>
<p>We have done this once for S#1 who graduated with High Honors from Swarthmore. For the type of kid he is, we feel it was worth the money, and we were a "full pay" family. He has chosen a life in academia and is currently in a top Ph.D. program, which I'm sure his undergrad education helped him get into. He would love to eventually teach on the college/university level in a "top tier" school with kids who really love to learn. He has been told that those assignments often go to kids who have graduated from very top programs. </p>
<p>Now we have S #'s 2&3 coming up in a year in this terrible economy. We will do everything we can to see that they have the same opportunities if we feel that they will fully take advantage of what they are given.</p>
<p>My parents met at the University of Chicago and paid for four kids to go to five different private East Coast colleges. They don't regret paying for any of the five schools, but the fifth was in a class by itself as far as the resources and experience offered. Of Harvard, my father often says, "It would have been a bargain at twice the price."</p>
<p>That being said, it was worth the price to pay, not to borrow.</p>
<p>If your criteria as to "is it worth it" is "would you do it again"....yes, in our case. Our oldest graduated from an Ivy and is now in a grad school which is one of the top ones in her field. We paid for her to attend both. Our youngest is about to graduate from a very selective private university in a specialized program which is one of the top ones in her field. In our view, not only have our kids gotten a great education (and I am not claiming that it is better than less selective schools or less expensive schools), they were at schools that matched them perfectly (that is where the value is for us). They have had wonderful experiences and a wealth of opportunities at their schools. Each one truly got the most out of it as she could (and I realize not all kids may do that and simply just attend and get through it). So, these educations and experiences were worth it to us and we would do it again. And we will be paying for it for some time to come, as well. We feel that their years at these schools have had a significant impact on their lives.</p>
<p>Yes for sure for 2 out of 3 (will have to wait and see how thongs work out for the 3rd one in order to decide if it was "worth it" - she's just a freshman...)</p>