Great question! I’ve wondered about this myself when I was in high school. From my experience, different universities offer different programs and connections for you. Therefore, the best thing to do may be to email the university to see what courses, programs, and networking opportunities they offer and compare that to the type of job or the company you may want consider in the future.
For instance, my university, while very competitive in my state, is not a top-tier Ivy League university. However, my university was able to provide the resources and connections that I needed with professionals from some of the top companies, such as the Big Four Accounting companies. I was able to strategically choose my courses to obtain experiences in accounting, finance, and data analytics, which were some of the skills these companies were looking for and it helped me stand out to those companies. The courses that my school offered and the events and networking opportunities that my school offered really helped to make me into an attractive candidate and helped to give me exposure to many top professionals. As a result, I was able to secure an internship and a full-time offer from one of the Big Four Accounting Firms without attending a top-tier Ivy League school.
In terms of financing, I personally believe that if you are able to find a school that can offer similar experiences or resources to a top-tier school that you might be looking at, it could potentially be a much better choice, especially if that school has a much lower cost or if its free. For me, my college was very close to home, so I lived at home during college, which saved me a lot of money that I can then use towards textbooks and meals. I was also fortunate enough to have some financial aid (FASFA) and student loans to help cover the rest of the cost, which was not much compared to if I had chosen to attend a university out of my state. I think it all depends on our budget and the programs and resources that the school can provide.
While a top tier school may be famous for its programs and connections, there are also many smaller schools that can offer similar programs, courses, and connections. If budget might be a concern, I would ask around to see what each university offers and compare that to the cost of attending that university.
Hope that helps and Goodluck in your journey!
On the other hand, if you are looking at jobs such as Accounting, then there isn't much need to pay full tuition for the school. Accounting is a fairly easy career as it is required for all companies, so the job outlook is very good. But going to NYU Stern, located in NYC where all the Big Four exists, helped make the recruiting process much easier. Plus, we were able to attend events at the company and have more alumni come back for networking and learning opportunities, but this isn't crucial.
In sum, it really depends on what your career pathway is and what does that job entail for the recruiting process. In the end, you are the one who is aware of your own finances and what you can afford. If you accumulate over 100k in student loans, the education will not pay off until you're well into your career and slowly pay off your debt, and at that point, a degree from a top-tier school vs. your state school, will end up having the same investment gains.
Deborah (Dee)’s Answer
This is a great question and something I struggled with as well when I was deciding on a college degree. I got accepted into NYU and Boston University for their business programs. With NYU, I did not receive much scholarship money, and I would have had to take on an exorbitant amount of student loans to pay for tuition. However, I got nearly a full scholarship to BU. I did not want to burden myself or my parents with loans, so I chose BU.
Though NYU's program was ranked higher than BU's, I do not regret my decision. I'm a senior about to graduate in May, and I can confidently say I am very happy with the business education I received at BU. I got to meet incredible people and professors, was challenged by the curriculum and projects I was involved in, and had many great internships and job experiences along the way. I know that I would have enjoyed NYU's program as well, and I'm sure they could have offered me different things than BU, but I'm happy knowing I do not have to worry about student loans after I graduate.
Of course, it is totally up to you and what your goals are for your degree and after you graduate. I think that there are so many great undergraduate programs that won't burden you with debt that are definitely worth exploring before you make your final decision. Good luck!
Great question! I have debated this a lot in my personal life. I was offered admission to more high-tier business schools and more low-tier ones as well (but was offered a full ride). I chose a field that has a lot of barriers to entry for those who do not go to a high-tier business school. I ended up getting into the industry but it was very difficult for me to get here because of the lack of alumni network, recognition for the school, etc. Bottom line i think it depends on what you want to do in business. Pursuing investment banking or management/strategy consulting is difficult without pedigree.
1) Save on Tuition - Community Colleges are thousands of dollars cheaper per credit compared to Universities. A core class credit is the same credit whether you paid $300 for it or $3000 dollars.
2) Save on Room and Board - Choose a local community college to save those dorm expenses for the first couple of years.
3) Work While in School - Many Community Colleges have multiple locations and online courses.
4) Get an Academic Boost - A chance to make up for poor high school records.
Make sure that you meet with an academic counselor at both the Community College and the University that you want to transfer too. That way you don't waste time on course that you don't need. Hope this helps.