$80K is big but not insurmountable for someone with a lucrative career in finance in NYC.
I would go to Wesleyan, but be cognizant of how you are doing, and if you’re not doing well, and aren’t on a path to a lucrative career, transfer halfway before you’ve piled up too much debt.
Wall street job opportunities are withering away. Since the financial crisis and new Dodd Frank regulations the incoming analyst classes at all the investment banks have dwindled. The only segment of finance in NYC that is still growing is the asset management side of the business and that is even more competitive and usually takes mostly MBA types or hard math and science types nowadays. 20 years ago your choice was very simple, the major Investment Banks would recruit from a rather small list of East Coast schools, most of the Ivies, potted ivies and a few of the other Nescacs. Seldom would you ever meet a Umass or Uconn or other state school type in the entering analyst classes. Nowadays its even more cutthroat and difficult to secure an analyst position. Moreover, the opportunities for rapid advancement and large bonus/paychecks right out of school are not that great. Even though an entering analyst at Goldman or JP Morgan can make close to $90k the reality is that living in NYC with costs and taxes makes that probably closer to $60k starting salary most other places in the USA. So honestly, I would say do not pin your hopes on a Wall Street job… but if you really love economics and want to do finance then I would suggest you go to Umass and graduate near the top of the class and then seek to get into Wharton or NYU or Columbia for your MBA and then target Wall Street as an associate. On the other hand, if you want your undergraduate experience to be one where you focus on learning, trying new things and engaging with other extremely bright and engaging students and if you have an open mind to perhaps a different path for your future then Wesleyan is the better bet. $80k in loans is not a big deal for a young, hardworking and enterprising person who is driven to succeed. Make your decision based on the potential for the kind of person you would like to become, not based on a carbon copy cut out of what Wall Street may have been 20 years ago.
@OHMomof2 - I see that the wikipedia entry you link has gotten all messed up with opinion, rather than facts. Historically if you were applying to the top schools in the country 75 years ago, before the establishment of the “Ivy League” the top three schools were always Harvard, Yale and Princeton. Most of the entering classes at those schools were comprised of private school graduates from the elite NY and North East private schools. For kids who were smart (and rich!) but wanted a smaller school environment, the “Little Three” comprised of Amherst, Wesleyan and Williams was the other ‘prestigious’ option. Hence the term “Little Three” or following the creation of the Ivy League, the term “Potted Ivies” was started to refer to these three schools. The NESCAC was only started in 1971. Nowadays the “Ivy League plus Stanford+MIT” has become the standard for the most competitive schools while the NESCAC + Swarthmore&Pomona is probably the corollary to the ‘potted ivies’ of long ago… fwiw…
The spread of the term “Ivy” is not surprising. According to the Smithsonian, English ivy ranks as the 5th most invasive plant species in the US. It really doesn’t matter if it is potted or not, it still creates a mess that is hard to clean up. The problem is most acute on the coasts, so you may have been spared from experiencing it first hand.