lit review
Tuition at elite, private universities has been on the rise throughout the past few decades. Forecasts indicate that tuition as well as total cost of attendance will continue to increase in future years. Research in the area of elite privates has followed several avenues. Work by Dale and Krueger (1999) and Leonhardt (2011) was concerned with whether the high cost of attending these schools is worth it for middle-class students. Brown, Haughwout, and Lee (2012) focused more on the growing student loan market, comparing it to the total credit card balance and auto loan balance in the United States. Additional work by Braverman (2012) suggests that some elite privates may be abolishing student loans altogether and replacing them with grants.
Several researchers addressed the worth of an elite private college education. Aronowitz (2014) examined a freshman at Williams College in Massachusetts who was taking out massive loans to attend school there. He suggests that an honors program at a more affordable state university may be better suited to the student's overall financial interests. Ehrenfruend (2014) argues that if a student is capable of being successful, they will achieve those means through their own skills, talents, and ability, regardless of which school they choose to attend. Rosenberg (2014) states that the worth of a bachelor's degree is high, but where the student earns it does not matter. However, Weissman (2012) asserts that the name on your degree really does matter- leading to higher earnings in the future. Lastly, he argues that if middle to upper-middle class students want to avoid student debt, they should stop being so willing to attend private universities with an expensive price tag.
In this project, I attempt to explain why some students choose to attend elite privates even if it means racking up massive debt after they graduate. The information will be gathered by a series of interviews. In these interviews, I will try to uncover these students' motivation for attempting the elite private and what goals they aim to achieve by earning a degree from one of these institutions. The information I gather could be useful in figuring out alternative ways for talented students to achieve success without attending an elite private.
Several researchers addressed the worth of an elite private college education. Aronowitz (2014) examined a freshman at Williams College in Massachusetts who was taking out massive loans to attend school there. He suggests that an honors program at a more affordable state university may be better suited to the student's overall financial interests. Ehrenfruend (2014) argues that if a student is capable of being successful, they will achieve those means through their own skills, talents, and ability, regardless of which school they choose to attend. Rosenberg (2014) states that the worth of a bachelor's degree is high, but where the student earns it does not matter. However, Weissman (2012) asserts that the name on your degree really does matter- leading to higher earnings in the future. Lastly, he argues that if middle to upper-middle class students want to avoid student debt, they should stop being so willing to attend private universities with an expensive price tag.
In this project, I attempt to explain why some students choose to attend elite privates even if it means racking up massive debt after they graduate. The information will be gathered by a series of interviews. In these interviews, I will try to uncover these students' motivation for attempting the elite private and what goals they aim to achieve by earning a degree from one of these institutions. The information I gather could be useful in figuring out alternative ways for talented students to achieve success without attending an elite private.