Saving a year’s worth of salary for one year of higher education at Harvard may yield great career results for some but that may not be true for all.
According to U.S. News and World Report, a recent Brookings Study shows that “other schools may either not cost as much and yield a similar salary and success of loan repayment, or they may cost about the same but generate higher earnings potential.”
Harvard is a small sample size and represents a limited portion of the zenith of college costs. But, in essence, the study shows that one may earn just as much for the duration of their career by attending a college with cheaper tuition.
That’s not a knock against Harvard as students, and their parents, are free to choose any school that matches with their educational goals.
This is an alternative that students have always taken. Take Ronald Nelson, a student who was accepted to all eight Ivy League schools.
Instead of choosing a prestigious Ivy League school, and the tuition that came along with it, Nelson went with the University of Alabama.
He said that Alabama “offered him a full scholarship and admittance into their selective honors program.” Nelson also wants to save for medical school and states that going to an Ivy League higher education institution would not allow him that luxury.
Still–students and parents have to make the decision that’s best for them. Rising costs of higher education will likely force more students to choose cheaper schools over ones with higher tuition rates.
