Elite privates are supposed to result in higher earnings and better job prospects. but what if they don't?
Before I delve deeper into the student debt problem, I would like to examine the following question. Although upper-middle class families choose to send their children to elite privates because of their high status, does a degree from one of them lead to a better life? Studies by the New York Times and the Brookings Institute say no.
If you are smart enough to earn a score of 1400/1600 on the SAT, you will have the same earnings no matter where you get your bachelor's degree. For example, two students with the same SAT score will be equally successful even if one goes to UPenn and the other goes to Penn State. While Penn State is not as prestigious as UPenn, both are fine schools. However, the studies say, the student with a 1400 on the SAT may not be as successful if they go to a school that is below the caliber of a large state university. The overall point is that you do not have to attend an elite private to be successful, as long as the school you go to is still decent. Nevertheless, attending college is still imperative.
If you are smart enough to earn a score of 1400/1600 on the SAT, you will have the same earnings no matter where you get your bachelor's degree. For example, two students with the same SAT score will be equally successful even if one goes to UPenn and the other goes to Penn State. While Penn State is not as prestigious as UPenn, both are fine schools. However, the studies say, the student with a 1400 on the SAT may not be as successful if they go to a school that is below the caliber of a large state university. The overall point is that you do not have to attend an elite private to be successful, as long as the school you go to is still decent. Nevertheless, attending college is still imperative.