To many, college is the stepping stone to life. Students believe college acceptance will foreshadow how successful they would be for the rest of their life. But how true is that really? I compiled some statistics to see how much of an advantage–if any–students in better colleges have in life.
If we are looking at success in life as happiness, the answer is simple. It doesn’t matter which college you go to. If you are willing to put in the time and effort to follow your passions, it doesn’t matter what rank your university is in nationally. Many famous CEOs and leaders–like Zuckerberg and Gates–became some of the most successful people on the planet because they followed through with their aspirations. According to Inc., a study on Harvard graduates showed that “‘warm relationships’ were the best predictor of happiness throughout [graduates'] lives.”
However if money measures success in this case, there is a slight difference. It is true that Ivy League and other top-tier schools have a higher starting salary than other universities. This is not, though, due only because of the universities’ prowess. A study by Dale and Kreuger “concluded that students, who were accepted into elite schools, but went to less selective institutions, earned salaries just as high as Ivy League grads.” It isn’t the school that makes the future–it’s the student. Initially, a high-ranking school gives students a boost for their first jobs, but in the end, success and happiness are the same regardless. The reason why graduates from many top-tier universities end up with higher median salaries is because of their determination and work ethic. Students who chose to study at higher colleges will get the same degree as that of a less renown school, but the top-tier graduates are more likely to continue with their education (as seen by graduation rates) and thus, get better pay.
Another aspect to look at for college worth is what you’re trading off in exchange for the degree. Is it worth going into much higher student debt in order to get that diploma? Ivy League and other renown colleges have a substantially higher cost of admittance which should lead to an equally scaled student debt. However, this is not entirely true. The reason many Ivy League graduates leave with a comparatively low student debt is because of the Pell grant. The Pell grant is a government-funded stipend for low-income students to attend universities. With such a low admission rate, these schools are trading potential students with low loan debt after graduation. While many of the students admitted to their colleges are eligible for the grant–less than 20% according to Market Watch–less than half of them receive the grant. In conclusion, your college worth depends on what you prize the most: money or happiness.
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