Does It Matter Where You Go To College?

collegeIt doesn’t matter. Yes, you read that right. Where you actually go to college doesn’t matter much in the grand scheme of things. Sure a Harvard degree looks impressive to your co-workers as they pass by your office, but it isn’t likely to lead to any real benefits like a salary boost.  Here is a breakdown of why it doesn’t really matter where you go to college:

1. Income level — An economic study conducted in 1999 found that those who attended elite colleges were earning about the same as those who chose “moderately selective” schools some 20 years after graduating. A follow up study conducted in 2011 found similar results. Bottom line: Harvard education doesn’t guarantee a higher paycheck.

2. Quality of education –The most “respected” isn’t always the top ranking in terms of education scores. Harvard tops the list in terms of reputation of respect, but it is outranked quality wise by UC-Berkley and others. Bottom line: many public colleges rank among the top 50 that won’t cost you the tuition of Harvard.

3. Self satisfaction — According to a survey of 30,000 graduates the type of college attended didn’t really influence their satisfaction level over their lives. A “great job” isn’t everything, and many graduates want “great lives” too. Bottom line: There was ” No difference in well-being among graduates of Ivy League colleges, universities with different Carnegie classifications or among the “Top 100” colleges.

4.  Student loan debt — It is no secret that elite colleges come with a heftier price tag than a public university. For many students at these colleges, student loans are a primary source of funding their degree. Bottom line: The higher the tuition the more likely the higher the student loan debt balance.

Read more at: