<p>I still debate with myself this very topic. I completely understand the OP's points, but I have a few things to add. I also could have gotten full rides, but instead took a much smaller scholarship to an Ivy. So now I figure that with Fin Aid, etc, I will be paying around 80k or so more to go to Ivy than to go to local USNews <70 schools. To me, though, even though the cost is greater, I just couldn't help but take the opportunity to go to one of the best places for physics in the world. </p>
<p>Also, with the average person making over $1 Million in their lifetime, and certainly much more for college grads, if I can use my Ivy name and connections and education to help me make only 5% more per year, than I'll have negated the money effects. </p>
<p>I respect those who turned down Ivy's, etc, because it shows planning and pragmatism that transcends a personal need for prestige, but I wouldn't say that those who turned down full rides to pay thousands more for another school are really foolish at all. </p>
<p>I guess it also makes a difference as to what field one wants to go into. I would love to be a professor of physics, and looking at the educations of physics professors at all types of schools, I can really see a difference. CalTech has 85%+ professors that went to top schools, most going to CalTech, Berkeley, Stanford, MIT, Harvard, Princeton, and Cornell. My cheaper local school has about 15%, and they are department chairs. Looking at that and at my own education, I had no choice but to pay the money. My life goal is to understand physics as best I can. Making/saving lots of money is around number 5 on my list. With that rationalization, what's 80k to go to the best? Not much in my book.</p>
<p>Plus, I am kinda selfish and I like to stand out. Part of my reason to go Ivy was in defiance to my school for seemingly actively discouraging kids to try for the best. Next year and in years to come, kids are going to apply to WUSTL, Stanford, and Cornell, kinda cuz I helped show it could be done. That might make my situation a little different from yours. Like I said in my opening sentence, I don't think I'll know for sure that my decision was the best one for many years. </p>
<p>I also know that some of my money goes to buy a name (which sucks because most people around here don't know that name). But on the flip side, I am always proud to show some school spirit!</p>
<p>From a foolish Cornell 09er.</p>