ivy leagues

Matthew Lynch published in Equity, Higher Education, Matthew Lynch

3 Startling Facts about Ivy League Schools

Ivy League schools are prestigious, with many students vying for acceptance and few actually earning a spot as an attendee. However, their reputation does not reveal the whole picture about these schools. For example, are these schools really worth the hefty price tag? Here are three interesting facts that should get you thinking about Ivy League schools a little differently.

1. Ivies are among the wealthiest schools in the nation. The truth is that attracting the best and brightest to one’s campus is always easier when money flows as freely as spring water.

According to a report by Moody’s Investor Service, Americans colleges and universities are developing a wealth gap problem.

“One third of all assets held by colleges and universities” are with the country’s 10 wealthiest universities.

A few on the list include Harvard, Texas, Stanford, Yale, MIT, and Duke. Of the top ten, three are public universities. The rest are private.

Harvard, perhaps the nation’s most prestigious university, is also the country’s richest. In terms of wealth, Harvard is stout with $42.8 billion. That’s almost $10 billion more than the University of Texas, which comes in second.

The report also states that the country’s richest schools “capture the bulk of charitable gifts flowing to higher education” to the tune of 60 percent.

But one of the more interesting portions of the study lands with how many schools collect their revenue. The collection of tuition and student fees at the country’s top 20 private educational institutions has a median of 15 percent. That number jumps to 46 percent for public colleges.

Moody’s report concludes that because of the recovering economy and stock market, university endowments for the country’s wealthiest schools have aided in their increased wealth.

2. Ivy League schools are not an instant payoff for graduates. For people seeking the cushiest early-career salaries, the Ivy Leagues aren’t paying off instantly.

Princeton, Harvard, Yale and Columbia don’t make it into the top 30 universities for starting salaries. University of Chicago, a tie for fourth, doesn’t make the top 200.

The top three schools? The U.S. Naval Academy, Harvey Mudd and West Point.

The list of schools that prepare students for a career with a high starting salary post-graduation day include many other elite military and tech schools, according to a report by PayScale that surveyed 1.5 million employees with degrees from over 1,000 colleges.

Graduates of the United States Naval Academy at Annapolis earn a median annual salary of over $80,000 over their first five years post-graduation, earning the school the top number of surveyed schools.

The PayScale survey tells us that Princeton, the highest performing Ivy League school offers its graduates a median starting salary of $60,000 – earning is the 34th highest in the country.

The nation’s traditionally elite schools distinguish themselves with a salary growth near graduates’ mid-career. Graduates from Ivy League and like schools see their pay jump significantly when they are more than ten years past graduation.

3. Actually, high college tuition may not correlate with high earnings at all. 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.

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.

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Matthew Lynch published in Diversity, Higher Education, Matthew Lynch

Campus diversity: Are Ivy Leagues getting closer?

America has a love-hate relationship with its eight Ivy League universities. For the majority, these elite schools are seen as unattainable places, reserved for those with superhuman high school transcripts and the deep pockets to afford to attend. Graduating from one is generally viewed as writing the ticket to a comfortable life, though, and you’d be hard pressed to find someone who wouldn’t be impressed with your framed Princeton or Columbia degree.

Ivy Leagues are the butt of jokes where snobs are the punchline and often considered out of the league, in both price and performance, for the average American high schooler. Ivy Leagues are viewed as places for already-rich, white Americans to pat each other on the back on their way to acquiring even more wealth. As with most things that are generalized and over-simplified, Ivy Leagues have more complexity in student, faculty and alumni diversity than is often portrayed.

Look at our own President – a minority Harvard graduate who married another minority Harvard grad, made a name for his down-to-earth approach to politics, and went on to become the leader of the free world. Is President Obama an extreme exception, or are we missing the story of true diversity at these stereotypically elite schools?

The truth is somewhere between the extremes. With the right direction, however, Ivy Leagues could really make some headway in improving diversity on their campuses in the next half-decade and could set the example for the rest of America’s university landscape.

Smart recruitment

Ivy League schools aren’t just waiting for minority, first-generation and other disadvantaged future applicants to come to them – they are reaching out, and early. Every Ivy League school is a member of the Coalition for Access, Affordability and Success which offers a portfolio-type program for college admittance. This portfolio is intended to start in 9th grade and is often accompanied by guidance from university officials on high school academics and additional items that will boost their final file for consideration.

These portfolios are about more than test scores and report card grades. A “locker” portion allows room for creative work, like visual art and essays. By allowing this application system, Ivy Leagues are setting the stage for students early in their careers, giving them a better chance at earning admittance when the time comes.

It will be a few years before this portfolio system is proven to work, at Ivy Leagues and the other 70+ schools that implemented its use in 2015. The fact that these schools have pinpointed the need to approach and guide students so early in their high school careers is important though. It shows that the schools in the coalition are serious about being proactive in diverse recruitment and are willing to put in the work to make get more disadvantaged students on their campuses.

The reality stands

For all their apparent strides to be more diverse, Ivy Leagues can’t deny the facts of where they stand today. First, there is the issue of money that simply can’t be ignored. Admitting students without concern for whether they can afford the school or not is a luxury of Ivy Leagues, whose alumni giving dwarfs that of typical universities. They can afford to pay the tuition of students who could otherwise not find the money to attend, giving them an advantage when it comes to diverse recruitment.

Even with all that additional money, though, Ivy Leagues are still mainly made up of affluent students. Nationally, 38 percent of undergraduate students earn Pell grants, earmarked for students from low-income families. Only 12 percent at Yale and 13 percent at the University of Virginia received Pell grants in the 2013-2014 academic year.

It’s not all bad news though. Brown University has some promising stats when it comes to its ability to recruit and graduate more diverse students. In its class of 2019, 59 percent of Brown’s accepted students went to public schools. All 50 states are represented, along with 85 nations. Sixty-one percent will need some form of financial aid to afford Brown attendance, and 45 percent identified as African American, Latino, Asian American or Native American (which still means it is a Predominantly White Institution, but not by much).

Cornell’s class of 2019 includes 700 first-generation students, 45 percent female and 48 percent who identify themselves as students of color.

So what will the class of 2025, 2030 and beyond look like at Ivy Leagues? Will new recruitment methods finally bridge the gap between the ideal of diversity and the reality on campuses?

What do you predict will be the future of diversity at Ivy Leagues?

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