<p>MIT hands down. It is not only the name. The students with whom you(or your kid) will be working are among the most brilliant, motivated young science/math minds in the world. There is no price that you can put on something like this. The resources, professors... it is simply an incredible place. It does, however, require a special type of student willing to make the sacrifice.</p>
<p>If admitted, you would be crazy not to attend. MIT is miles ahead of the rest of pack. And that means no disrespect to the other schools.</p>
<p>Alfan44: Intersting take, thanks. I spoke to several MIT grads and current students who said to take the money. Their comments were that as good as MIT is it not worth full cost. I decided to email people I know who went to and even teach at HYPSM with the same query. Got responses last night. Their answers, to a person, were "Can't see in the long term where it would make any difference. Go to a top tier engineering school that would be free". They all acted like the 60's must have really done more to my brain cells that they had originally thought. I was going to send another email that said "Well these peolpe on this site called CC said..." but I did not want to test the limits of our friendship.</p>
<p>Cannot argue with you over the money issue. However, MIT is generally the #1 recruiting school for undergrads at Goldman Sachs. Virtually every major investment bank, private equity funds, hedge funds, consulting companies, and high brow tech firms recruit(even fight for) top MIT undergrads. And the jobs they are recruiting for are not your run-of-the-mill entry level stuff at Intel, Motorola, or Lockheed.</p>
<p>Just keep that in mind. If you really have the brain power, it makes a huge difference. You will end up on a different level.</p>
<p>Alfan, you think MIT is worth $270,000 ($200,000 cost of attending MIT plus $70,000 stipend from Michigan) more than Michigan? I agree that MIT is clearly the best when it comes to Engineering. I would say MIT is clearly the best even if Stanford were on Oldolddad's list. But Is it $270,000 better? I am not so sure about that. I guess it depends on how much $270,000 is to the person answering that all-important question. Let us not forget that MIT is #1 in Engineering and Michigan is #5 or #6. I personally recommended MIT to Oldolddad too. In fact, he seemed to me leaning toward Michigan and I encouraged him to reconsider MIT. IMy exact words were "once-in-a-lifetime-opportunity". However, I assumed that $270,000 wouldn't put too much a dent into his oldoldpocket! If it does put too large a dent in his pocket, I don't think it makes sense to break the bank when the alternative is the #5 Engineering school in the land for absolutely free and then some ($72,000 in stipend money).</p>
<p>Alexandre:Alexandre:You assumed wrong. What is interesting is that most of those who said to go to with the money are quite well off and easily could afford it. As a recent MIT grad told me:" I am not sure that MIT is the best place at all for undergrad engineering. I am not sure I would chose it as tops even if it was free" . Goldman Sachs. Hmm ...don't know about that but the list of recruiters at Berkeley, UIUC, UM, Harvey Mudd etc is pretty tops. </p>
<p>Actually I think a western school might end up as top choice but the discussion is aimed at the initial general question of any paid for good engineering school versus MIT or other "elite" at full cost. I would also contend that one needs to look at the others aspects, both academically and non that a school has to offer.</p>
<p>Bain, Booz Allen, BCG, Citigroup, Goldman Sachs, Lehman Brothers, McKinsey and UBS all recruit at the Michigan College of Engineering, so I wouldn't worry too much about job prospects.</p>
<p>Alexandre:
Your points are well taken. U of M has an outstanding engineering school. No doubt about it. And I know that the big firms all recruit there, too.</p>
<p>Regarding your math: I believe OOS at U of M is about $40K. So over four years it would cost $160K; less the stipend of $72K, the student pays $88K.</p>
<p>MIT is $50K per year(approxmately, I know it goes up each year). So four years there is about $200 K. </p>
<p>My math says the difference is $112K. Is that a lot? Yes. Do I think you'd get it back over your lifetime? You better believe it. Many, many times over.</p>
<p>Alfan, I don't think the same person would earn more going to MIT over Michigan. That person will have similar opportunities both in college and upon graduation. Let us face it, MIT material students do well at Michigan. Like I said, MIT is clesarly better...a once in a lifetime opportunity, but Michigan is not far behind.</p>
<p>As for the price difference, I am pretty sure Oldolddad said that Michigan will cost him nothing. If the difference is indeed $100,000, then I would definitely agree with you. But I have a feeling it will be a $200,000+ price difference.</p>
<p>Just got an email from an MIT kid who loves it and went there undergrad and grad. Said grad is great. Undergrad would not put it as near the top and said not sure he would recommend going even if it were free. Said it has become over hyped and there are a number of unhappy students at the end, many of whom went because they just had to go to MIT. Said that anybody who puts that much weight into a 4 year slice of a long life has got their prioites out of whack. Also said the course and texts and p-sets were often the same at many schools especially in engineering. Said that many of the best grad students there went to state schools for undergrad. Interestingly enough he has been checking around even with profs regarding this hypothical question. They all said go to Berkeley or any paid for college including places like Rice or Olin. Interesting perspective. Is it universal? Of course not. But maybe more common than many on CC would think. Fascinating to read everyone's thoughts</p>
<p>hmmmm, pay $200,000 or make $10,000 a year at school. that's a 240,000 difference right there man.</p>
<p>oldolddad might be exaggerating a bit. the most michigan will give out is everything (tuition, room and board, etc) plus a 10,000/year stipend. either way, that's still coming out so well financially, who cares if one has to wait a little bit after college to work their way up to one of those more "elite" types of jobs that supposedly come from going to MIT? The money spent paying off loans for years afterward will negate the post-MIT job earnings (and is loaded with much frustration). This is of course assuming that you're a kid whose parents haven't pledged to pay every penny and to whom you actually respect and owe your gratitude and don't want to make them pay everything because you're not a spoiled brat.</p>