Hi guys! New to posting, but longtime lurker here. I am extremely fortunate enough to have received an LL from an ivy. In addition, I am expecting (based on conversations with admissions etc) a full ride Trustee offer from USC. The ivy would be full pay, and my family can afford it without altering their lifestyle, but 240k isn’t exactly nothing. My parents are definitely pushing me a little in the direction of the ivy, as they believe that the longterm benefits of an ivy education outweigh the merit award. For what its worth, I live in New England, so USC is definitely a bit of a trek, but I did visit and enjoy it. I don’t know enough about finances and the job market to really judge the worth of an ivy against the money. So my overall question: is the “ivy cult” and recognition worth the initial loss of 240k?
I’m just getting out the popcorn for this one.
^^Ha @"Erin’s Dad beat me to it.
I’ll start. What do you intend to major in? 
Grad school in your future?
I’m not trying to start a fight or anything? Just looking for advice for this specific situation. Also, I wanted to add that I have no plans for med school or law school currently (likely no need for parental help with grad schools)
Right now I’m undecided, but honestly probably not something super secure like CS or engineering.
Congratulations, both on getting in to great schools, and for doing so despite being born into a wealthy family.
USC is a beautiful campus that attracts a number of kids from New England, so you would not be alone if you attend there. There are also plenty of full-pay students at Ivy league schools, and some of those kids’ families do in fact notice the quarter-of-a-million bucks they spent on their schools - even though they could afford it.
As a New England mom of a Columbia and Stanford students, the I would encourage you to do what you feel is best for you. My S chose Columbia over USC and Pomona, in large part because of the distance from home. My D chose Stanford over Yale - both were great options, but distance was not the same priority concern for her - although it sometimes kills me that she is so far away, I know that she is happy there.
But our situation is very different than yours, as my pups were getting great need-based financial aid from all their choices. I would have a hard time encouraging someone to spend that kind of money just to stay close, but quite frankly that amount of money means far more to us than it would mean to a family much wealthier than we are.
You are obviously a very smart, driven, motivated kid if these schools want you. I am sure you will figure it out.
Besides, its not like your entire future depends on this choice. You come from a wealthy family so you can afford therapy if you make the “wrong” choice.
To generalize, from a hiring perspective, an Ivy degree will open more doors than a USC degree. But, as I said, that is a generalization. I would not be surprised if there are situations (say in LA metro area, in the film industry, in the NFL 
where the USC degree would prove to be as valuable if not more.
In the end, if $$ is not a large concern, then I think fit is the most important factor. Follow your gut on where you think you fit in best.
Honestly, no one here can define “worth” for you and your family. You are in a very fortunate position, and it seems you know that. Given what you’ve posted here (your parents can afford full pay w/out debt or lifestyle change), I think you should pick the school you like the best. They are both good options. If for some reason you want to make your career in California, maybe you should give USC a bit of extra consideration. Also, you are not losing the money, your parents are (unless they are doing something like offering you $240K in a bank account if you don’t go to the Ivy or something). But it sounds like they are pushing you for the Ivy so if you like it better, that’s where you should go. Good luck!
If money is no concern… and your parents are not only happy but pushing you toward more expensive Ivy, choose whatever you like best without thinking of costs. You have that rare luxury, enjoy it.
Look at fit, campus culture, weather, sports, clubs that matter to you, gen ed/distribution requirements, location, etc. Visit again if necessary, spending a night in a dorm, attending two classes (one in an area of interest, the other in a freshman requirement), talking with people, reading the campus paper, eating the food in the cafeteria…
I agree. Since money isn’t really a concern, go where you think you’d like it the most and thank your parents profusely. It’s very good of you to acknowledge that the $ is not a drop in the bucket.
Seems to me that USC is offering both prestige and money.
OP my DD is in the same position as you are now: scholarship at USC or full pay at Ivys and other top private schools. And we are full paying family. Something to consider: most of Ivys are not known for the best engineering programs, with the exception of Cornell and few more. If you are serious about your major, look beyond the brand.
If you attend USC your parents could donate the $240,000 to a charity of your choosing.
Thanks for the advice! Hopefully after admitted days and such the answer will be much clearer
I’m with @mommdc Go to USC, it’s not as if it’s Podunk U. Your parents would probably help you with grad or professional school (if necessary) with the money saved.
If they are wealthy beyond my imagining, however, pick what you like best.
^ This is exactly the predicament. We prioritized college enough and saved enough that full pay is an option, but we are certainly not wealthy enough that 250k is chump change. I think the best thing for me will be to wait and see what other offers and opportunities I get. After all, it’s still a few weeks till April 1st
Depends on what Ivy it is.
Yes. This is the best thing for you to do. That said, is there an accepted students event/day at USC between now and the time you find out about the other schools? I would take this time to visit USC again with a closer eye on how students behave, look, act, etc.
Congrats!
The Ivy’s will make a difference only for few majors, while you will not see any difference for many others. Family resources are limited including those who can pay $50k in tuition. Your family is the only one to decide if it is worth for them to spend that much on UG education, while you have to do research if the Ivy will make a difference for your intended career. If you want to estimate yourself the financial ability of your family, I can only tell you the way I see it. If your family income is somewhere close to $300k, they can probably pay for Ivy without altering their life style. If it is much less, I am not sure. That would be my threshold for the UG, I do not see any UG worthwhile to pay 250k for. I hold different opinion in regard to Med. School or Law School. Well, my opinion is very different from the most of the posters here though.