<p>I am convinced, based on extensive anecdotal evidence and limited statistical evidence, that a Columbia education is more likely to put you into an industry that is in tune with your personal aspirations, and within that industry more likely to get you well-paid (or better-paid) to start, than most 2nd-tier schools. It will better prepare you for rigorous academic paths (PhD, professional schools) post-graduation, it has a superior alumni network in high-demand professions, and its relationships and reputation - yes, the prestige of just having the school on your resume - makes a difference with employers.</p>
<p>On top of the strict economic considerations, there is a quality-of-life component as well. Half of that is the benefit of being subsidized to live in NYC - you are paying roughly the same housing costs of on-campus housing at any university in the country, i.e. about $600 a month - at no incremental cost.</p>
<p>The other half of that is the people you meet. At (say) Tufts, you will meet a number of smart people, but the density of truly fascinating, passionate, committed people will not quite be the same, and that atmosphere pushes you to raise your own standards for yourself, discover a higher gear, and get the most out of your education that you can. Not that there aren’t some students who sit around in a pot-induced haze for 4 years, but the typical case is one where people get a lot out of the education and particularly the atmosphere. That is worth something, although it’s much harder to quantify in economic terms.</p>
<p>If you’re planning on being a classics or psychology major it’s probably not worth it if the difference truly is $100k in debt to go from a 2nd-tier school to Columbia. If it’s to go from a community college to Columbia, then perhaps. If you consider yourself ambitious, Columbia (like its peer schools) is well worth the investment up front.</p>