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When choosing a college what should I prefer, better reputation or better price?

So I'm pretty smart and have a GPA high enough to get me into a pretty solid college, but I'm worried about the cost and the student loans I would amass. So I was wondering how I would find a balance between both a good education and a good price, but not suffering in either, and in a worst-case scenario, which one should I pay more attention to, college reputation or the price tag? #college #finance #student-loans


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Tamara’s Answer

Greetings Quinton,


You pose a great question!! From my personal experience, I have found that at this juncture in our society, cost would be your most important factor to consider. I have met and been in contact with individuals with degrees from the most remote colleges, and all that matters is what they received their degree in. When it comes to acquiring a job or displaying your skills, all that matters is the ACTUAL degree you have obtained. Employers do however look beyond your grades and major, and review volunteer experience, as well as stability in employment. With that said, choosing a college that is completely affordable, and educationally beneficially would be your best bet.


Hefty loans after college is not cool!! Trust me!! Do your research and find as many grants and fellowships as possible in addition to your Pell grants to fund your education.


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Jordan’s Answer

The two individuals that already commented make excellent points. Another thing to consider is that if you go to a school that is less expensive and can obtain financial aid and/or achieve academic accolades there that goes a long way and should be highlighted on a resume. For instance, maybe you end up going to a school that is 5th on your list of top choices. If you get financial aid and make the honor roll every semester and graduate magna cum laude, I think that is a bigger deal than simply graduating without any awards from a more prestigious school.


Student loan debt is a huge problem and I think most employers understand this and would understand a candidate choosing a less prestigious but also less expensive school.


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Donald’s Answer

Great advice from Ken. My experience is that as time goes on the name of the undergraduate institution means less and less - unless maybe a top 5-10 Ivy League. Look for scholarships - friend of mine received a scholarship that was narrow in scope - student from a particular town majoring in a particular subject going to a particular institution.
The load of school loans will be heavier that the lack of a named institution.
If you are planning on an advanced degree then the undergraduate is even less important. Save your money, study hard, get top grades and then go to a highly regarded graduate school.


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Christopher ’s Answer

I am going to have to disagree with a lot of the previous advice. While I agree that the answer to this question will depend a lot upon which field you are looking to enter, I think overall you should try to go to as good of a school as possible. In theory, a lot of the advice that it only matters the type of degree you obtain or your school doesn't matter as much as your career progresses, should apply. However, I have found that in reality this is not always the case. Your school and your network follow you. Unfortunately, the career environment is very competitive these days and a student needs every advantage they can get. As someone that went to a state school, I personally have witnessed the disparity in opportunities for people graduating from elite universities. You can certainly succeed from any beginning point, but being given the opportunity to succeed is more likely from a higher quality school.


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Peter J.’s Answer

All of these prior answers are excellent.
I would add a couple other questions to consider:
a.) What field do you want to work in? Go the colleges with the best reputation in those fields. If the school isn't rated high on the lists for those fields, don't spend your money there.

b.) Where do you want to live after you graduate? Go to a school near where you want to live after graduation. For example, if you want to live in New York City, go to a college in that city or nearby.
The reason is the networking is great. There are many professionals who like teaching a class here or there so it's an excellent opportunity to network.
I know an engineering student who was in a UC San Diego class taught by Irwin Jacobs. Jacobs invited this student to join his company, which was then a little-known firm called Qualcomm. Now that company dominates chips for cell phones and he did very well financially.
I also know a young man who was accepted to about 15 different law schools around the country. He lives in Southern California and was pondering law schools in Alabama and Atlanta. The problem is that all the friendships and connections he would make in Alabama and Atlanta would be of little use in Southern California. In the end, he knew he'd want to live in Southern California so he picked USC.
A USC degree in Southern California opens job doors like you wouldn't believe.


Good luck!


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Maya’s Answer

I agree with others in that there are many other factors that determine which preference holds more weight. Speaking from experience, if you want to major in business, finance, economics or related fields it may be better to go to a more prestigious college. This is because students in these business-related fields often recruit for their full time offers through their universities. Additionally, bigger and prestigious companies will not recruit from all colleges. For example, a Big Four company like Deloitte would set up interviews and recruit from Harvard University but may not provide the same career path option for students at a local community college. In order to secure an above-average job in an above-average firm in the finance field, it is better to attend a more well-known college. If said option is more expensive, just remember that a better college can be leveraged to earn more in your lifetime compared to a college that offers you a scholarship for four years.

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Ken’s Answer

Hi Quinton!


You asked a very important question. Here is some information that will be helpful.


The college from which you obtained the degree matters little over time, as your performance in your chosen college studies and work experience carry more weight in the eyes of employers. It is more important to consider costs and the relevance of the content of your major when looking at preparing for a career. Too many people needlessly end up with a huge student loan debt that is very difficult to pay off.


Best of luck! I would like to follow your progress. Please keep me informed.


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aftab’s Answer

Hello,
Both play an important role while choosing a college. Below are few tips.hope this helps you


If you want to earn a degree that will help you to create value in today’s job market, it is important to make sure that the college or university you attend is accredited.You will also want to find out if a college is regionally or nationally accredited. While both accreditations are valid and valuable, you will most likely want to make sure that the college or university you attend is regionally accredited
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The primary goal of most people going to college is to earn more money, not loose money. Notwithstanding, college does cost money and the price tag can vary greatly, even amount private colleges. When considering a college, make sure you’re aware of all the costs associate with attending the college, not just the cost of tuition. There are textbook costs, housing costs, fees, food and other expenses, and these can all add up to a whole lot very quickly.Fees may include costs for nonresident or out-of-state students, health services, extracurricular activities, sports, and computers. Many individual college courses may also have additional fees associated with labs, supplies and equipment.
You’ll want to evaluate the cost of living on campus versus off campus. Many colleges offer “room and board” packages for students that cover the cost of both housing and food.


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