Would you pay for your kid to attend an Ivy League school?

[MarathonMike]

When our sons were in high school, we attended some Ivy League school presentations as well as the Stanford Baseball camp for prospective student/players. What was somewhat shocking to us was that there were essentially no scholarships unless there was proven financial need. Since we did not qualify for need based scholarships, we wondered if it made sense to even apply. Both of them did but were either wait listed or not accepted so they went with different colleges where we were able to have most of their education paid by scholarships and my wife's tuition reduction benefit.

Looking back on it, I'm glad they weren't accepted because of the huge expenses associated with Ivy League Schools. Tuition is only part of the picture, add room and board, books, and other school 'fees'. Is an Ivy League education really worth spending a quarter million dollars? That is about what the grand total would be. If you are going into politics or business maybe so for the powerful contacts one could make in college. Other than that, I don't see it.

 

[Jessica123]

As long as they were taking an serious field of study of course I would. Who wouldn't?

The chance of getting ahead in life is far better after doing so.

 

[theDoctorisIn]

Doing some quick research, it looks like Ivy Leagues are actually quite generous with scholarships.

At least at Princeton, which is the first example I checked, you qualify for 100% of tuition paid for if your household makes less than $160,000.

 

[MarathonMike]

Doing some quick research, it looks like Ivy Leagues are actually quite generous with scholarships.

At least at Princeton, which is the first example I checked, you qualify for 100% of tuition paid for if your household makes less than $160,000.

That wasn't true 7 or 8 years ago when we were looking into Ivy's. There was nothing unless you made WAY less than 160 thousand. And no merit based scholarships. The answer we got from recruiters was "All of our students are meritorious so there are no merit based scholarships."

 

[Unkotare]

The ivys don’t have athletic scholarships.

 

[theDoctorisIn]

Yes, the Ivys don't offer merit scholarships - because they're already on the top of the list. They're sought-after enough that they don't need additional enticement to get the smartest kids to apply there.

They don't offer athletic scholarships because they don't really care much about their sports programs.

 

[Unkotare]

...

they don't really care much about their sports programs.

That’s not true.

 

[theDoctorisIn]

...

they don't really care much about their sports programs.

That’s not true.

It's hyperbole.

 

[MarathonMike]

Yes, the Ivys don't offer merit scholarships - because they're already on the top of the list. They're sought-after enough that they don't need additional enticement to get the smartest kids to apply there.

They don't offer athletic scholarships because they don't really care much about their sports programs.

Yes I know that, my son was an athlete. Also I was curious about your finding on Princeton so when I checked their financial aid website it said you have to make less than $65,000 a year to qualify for a full tuition grant which is about the level I remember when we were looking a few years ago.

 

[theDoctorisIn]

Yes, the Ivys don't offer merit scholarships - because they're already on the top of the list. They're sought-after enough that they don't need additional enticement to get the smartest kids to apply there.

They don't offer athletic scholarships because they don't really care much about their sports programs.

Yes I know that, my son was an athlete. Also I was curious about your finding on Princeton so when I checked their financial aid website it said you have to make less than $65,000 a year to qualify for a full tuition grant which is about the level I remember when we were looking a few years ago.

How Princeton's Aid Program Works

If you make $65,000 or less, you get a full tuition grants, full fees grants, and full room-and-board grants as well.

If you make $160,000 or less, you get a full tuition grant - but you have to pay the fees, room and board.

 

[MarathonMike]

Yes, the Ivys don't offer merit scholarships - because they're already on the top of the list. They're sought-after enough that they don't need additional enticement to get the smartest kids to apply there.

They don't offer athletic scholarships because they don't really care much about their sports programs.

Yes I know that, my son was an athlete. Also I was curious about your finding on Princeton so when I checked their financial aid website it said you have to make less than $65,000 a year to qualify for a full tuition grant which is about the level I remember when we were looking a few years ago.

How Princeton's Aid Program Works

If you make $65,000 or less, you get a full tuition grants, full fees grants, and full room-and-board grants as well.

If you make $160,000 or less, you get a full tuition grant - but you have to pay the fees, room and board.

It does appear that Princeton has a very generous (relative) FA package that is unique among the Ivy's. I've read some college blogs that support that fact. The other 7 Ivy's are still going to get way deep into your pockets. So the question remains is the very high cost of an Ivy League education worth it compared to say getting in-state tuition at your state university?

 

[Admiral Rockwell Tory]

Now all you have to do is find a kid with the academic background to be admitted and those are as common as hen's teeth.

 

[MarathonMike]

Yes the academic requirements are set very high. What we found is that they also counted "community service" very highly along with other extra curricular achievements.

 

[rightwinger]

Hard to say whether a $250,000 education is worth it

How much does the prestige of your Ivy League degree count? You will have a choice of employers when you get out
An Ivy League education puts you on the fast track for advancement provided you deliver the performance
An Ivy League school is also a great way to make contacts, both personally and professionally. Want to marry into a wealthy family? Ivy League can help you get that spouse

 

[MarathonMike]

Exactly. It would be really interesting to follow the progress of a group of random graduates from various Ivy's and see where they end up in 10 years. I've never seen such a study but my guess is there would be a wide range of outcomes. I doubt if any would end up living under a bridge but my question is: For the majority of grads do they significantly surpass grads from "regular" universities?

 

[rightwinger]

Exactly. It would be really interesting to follow the progress of a group of random graduates from various Ivy's and see where they end up in 10 years. I've never seen such a study but my guess is there would be a wide range of outcomes. I doubt if any would end up living under a bridge but my question is: For the majority of grads do they significantly surpass grads from "regular" universities?

There is also a pecking order among the Ivy’s

I doubt if a grad from Cornell or Brown does as well as a graduate from Harvard, Yale or Princeton

 

[Unkotare]

Attending an ivy is worth it. Hard to get in, but once there the work isn't notably more challenging. That piece of paper is worth more than gold, for right or wrong.

 

[Unkotare]

Exactly. It would be really interesting to follow the progress of a group of random graduates from various Ivy's and see where they end up in 10 years. I've never seen such a study but my guess is there would be a wide range of outcomes. I doubt if any would end up living under a bridge but my question is: For the majority of grads do they significantly surpass grads from "regular" universities?

There is also a pecking order among the Ivy’s

I doubt if a grad from Cornell or Brown does as well as a graduate from Harvard, Yale or Princeton

They do well enough.

 

[MarathonMike]

Exactly. It would be really interesting to follow the progress of a group of random graduates from various Ivy's and see where they end up in 10 years. I've never seen such a study but my guess is there would be a wide range of outcomes. I doubt if any would end up living under a bridge but my question is: For the majority of grads do they significantly surpass grads from "regular" universities?

There is also a pecking order among the Ivy’s

I doubt if a grad from Cornell or Brown does as well as a graduate from Harvard, Yale or Princeton

Funny you mention Cornell, a good friend of ours is a Cornell grad. She would be an example of doing well enough but as a manager in a real estate office I would not consider that worth the cost.

 

[rightwinger]

Exactly. It would be really interesting to follow the progress of a group of random graduates from various Ivy's and see where they end up in 10 years. I've never seen such a study but my guess is there would be a wide range of outcomes. I doubt if any would end up living under a bridge but my question is: For the majority of grads do they significantly surpass grads from "regular" universities?

There is also a pecking order among the Ivy’s

I doubt if a grad from Cornell or Brown does as well as a graduate from Harvard, Yale or Princeton

Funny you mention Cornell, a good friend of ours is a Cornell grad. She would be an example of doing well enough but as a manager in a real estate office I would not consider that worth the cost.

My cousin went to Cornell as did his parents
Ended up getting a Doctorate from Penn

He did quite well