I’ve finally narrowed my college decision down to 3 choices, and I’ve been having trouble with the decision to go to Nebraska, a lower prestige school, but where I’ve been accepted into the honors program and would have to pay very little in tuition and fees, or Notre Dame, which comes with a more prestigious name and likely a better overall education, but at a much higher price. I’ve also been accepted into Indiana, which seems to be in the middle both price and prestige wise. I will be studying finance, and would like to pursue an MBA eventually. Any advice or ideas on what may be best to prepare me for higher quality graduate schools would be appreciated!
How much debt would you need to take on over four years with each school? If for some reason you need to take 5 years to graduate, then how much debt would you need to take on?
I think a lot of people will advise you to attend the lower cost school, and the decision really does depend on how much your family can afford. If you were my kid, I’d want you to go to Notre Dame, hands-down. Having said that, you can be successful in life no matter where you go to college. Best of luck in making your decision!
Having the words “Honors” and “Magna Cum Laude,” etc are impressive things you can put on a resume. Also, if you’re looking for something in finance, you could also put “debt free” on your resume too. That reflects maturity. Ultimately it’s your decision, but I don’t think you’ll have a problem finding a job either way. Graduate schools are concerned about grades and GMAT scores mainly.
Anecdotal: As someone who has sat on many a search committee over the past 8 years, from positions ranging from Admin Assistant to second-in-command, I can honestly say we only look at the school long enough to gauge two things: One, do we know anyone who went there (the age old “it’s all who you know”); and Two to make sure it’s not a for-profit school.
n=1 so YMMV. But for us, name doesn’t matter. Skills do.
Edited to add: If you are going to eventually get an MBA, put all your effort into getting into a top-tier school for that. That’s where it will make a difference, where doors will open, to be able to say to someone “I graduated from Stern” rather than “I graduated from local U”.
If you can afford it, Notre Dame for sure.
Can your family afford ND? Will you need to take out loans to go there?
Your grad school admission will depend on your GPA and GMAT score, not where you went for undergrad.
From a strictly undergraduate education perspective: it’s a wash. One of the biggest myths out there is that there is a big difference, educationally (remember, we are talking about undergrad here), between schools. Again, I am talking strictly about quality of education.
That said, there is a value attached to brand, so the ND brand wouldn’t be worthless, of course. But how much is it worth? Only you and your family know. In general, though, no, I would not take on huge debt for you or your family (moderate debt, maybe) for brand and all that comes with it (alum connections, which are significant at ND; name recognition; networking with classmates and their families; that warm feeling you get knowing that you are attending a name-brand school). Indiana has a top-notch business school, so if that’s an option for you, I’m not sure that Indiana would be a drop down from ND. Kelley is pretty well known.
If you do well at Nebraska, go to Notre Dame for your MBA. I have a friend who did his there and he’s doing great. Save your money for that. Honors College can be fabulous. Also, look again at Indiana. IU is probably more prestigious than you are thinking.
Since you want to study finance, which option makes the most financial sense?
I can’t believe nobody asked these questions yet.
Are you preapproved for Mendoza?
Are you a direct admit to Kelley?
If the answer is no to the question, that school is out.
@chercheur That is decision making under uncertainty. It is really an Economics question.
If you are a direct admit to Kelley and it is affordable, then that is a great option.
And while it is not my field, I understand generally what matters in MBA admissions is the post-undergrad work experience, not the name on the undergrad degree.