So, as you might have guessed, I’ve gained admittance to Dartmouth College and am a shoe-in at UW honors college (the decisions don’t come out until late March but I’m in state, 1530 SAT, straight A’s, and such).
I’m going into the business/economics field and know that an education at Dartmouth would go a long way in terms of networking and prestige; however there is quite a cost difference between UW and Dartmouth.
On one hand, UW has tons of resources that are readily available for honors students. The location is also nice because it’s closer to home and a couple of my friends are planning on attending the university.
On the other hand, Dartmouth is an Ivy League school and has excellent acceptance rates into graduate schools. In addition, Dartmouth has one of the most powerful alumni networks and is considered a top 10 college. The school is also top-ranked in economics, the degree I plan on pursuing.
The difference will be about 80k-100k for my undergraduate education. I was wondering if the cost is really worth the difference. Dartmouth is my dream school but I don’t want to stress my parents financially for a difference in education that is not substantial.
Thank you in advance for any advice and if you guys need ANY clarification, don’t hesitate to ask
Those are two great options and in my opinion you can’t go wrong with either choice. Either would provide you an excellent education.
Both schools have good alumni networks but Dartmouth’s is stronger and more nationwide.
One thing I’ve learned from my kids’ experiences is that going to an Ivy or other elite institution opens doors that, unfairly or not, are closed to qualified graduates of other fine colleges.
You say you plan on studying economics. If you plan on going into finance or consulting, Dartmouth will pay dividends for you.
I agree with Sherpa. A Dartmouth education will give you great connections and job opportunities. However, if you or your parents will be taking on a mountain of debt, I would have to advise you to think very carefully. If it would merely cause strain and maybe leave you with reasonable, payable debt but not leave your parents with 0 retirement funds or anything extreme like that, I say go for it.
For argument’s sake, I will be a dissenter. You sound like the kind of student who will do well no matter where you go. College is what you make of it. I can’t see you going to college and twiddling your thumbs. I am very certain that should you choose UW, you will do extremely well for yourself and save $100k. Bear in mind, that is $100k of your parents’ money? Right? Think about that amount of money this way: As a new graduate, it will be quite a long time before you clear $100k in “profit”, once you have paid your bills and put money into your retirement account, etc… If there is a chance at all that your parents are going to take a financial hit if you go to Dartmouth, I don’t think you can justify it. Like I said, I am very sure you are the kind of person who will do well no matter where you end up.
For additional perspective, I once read an interesting article that I wish I could recall the name of. The story was about two high school grads, one goes to Yale, the other goes to Indiana State. A few years later, both end up at the same company, and the Indiana State grad ends up becoming the company hotshot with the bigger salary. It really is all about what you do with your opportunities.
Not necessarily. If you are from a wealthy family, you are expected to pay in full. So Dartmouth will ask you to pay around $66,000 (direct cost) and UW will ask you to pay around $23,000 (direct cost for in-state student).
If I were to finish graduate school (for an MBA) at a prestigious university (Dartmouth, Cornell, Stanford), then would where I attended for undergraduate school matter as much?
If not, then I’m leaning towards UW just because of the saved money.
Thanks again for all of these insightful opinions!
Tough call. If Dartmouth is your dream school and your family can afford it without a major financial strain, I’d go to Dartmouth. As for costs, though, also consider the added travel costs.
You may be making a strong assumption here. If you get that top MBA, undergrad probably doesn’t really matter. I think most people agree with that. But not all applicants are equally likely to be admitted to those top programs.
Not all HS kids are aware that at a top MBA school you don’t enroll right after undergrad. They expect a few years real-world job experience so the lessons are relevant and not just book learning. And not just any job. Finance and consulting jobs have traditionally been a ladder into a top MBA program, as well as some other jobs where you have significant responsibility. Top firms preferentially recruit at Ivies and other top schools.
If you’re trying to go to graduate school, have you discussed payment options with your parents? What if they will only pay for graduate school if you do the cheaper option and go to UW (which is a great school of course). That might make a decision for ya!
What you can’t measure until you get there (which will be much stronger at Dartmouth) is the people you will meet and the connections you make. It is these relationships and connections that make the difference the rest of your life. Plus all the perks of a private education. 100% Dartmouth.
Because of the cost and potential financial strain, Dartmouth is allowing me to see what other universities I get into and then weigh my options. I kind of overestimated how much financial aid my family would get but Dartmouth has been super cool about letting me see where else I gain admission.