A survey released this week bolstered the argument that the luster of private elite colleges might be fading… as graduates of top public institutions tend to be among the best prepared and fit well with their corporate cultures.
And the cost is completely driven by hype and greed as the Median household incomes are 6.5 times what they were 40 years ago, but the cost of attending a state school is 15 times higher for in-state students and 24 times for out-of-state students. The cost for private colleges rose by roughly the same rate or less, but that tuition remains out of reach for many families.
One year at a private four-year university averaged $35,636 in 2009-10, according to the College Board.
In-state tuition and fees at public four-year institutions averaged far less, at $7,020, while out-of state averaged $18,548.
And to make the point stronger Graduates from elite schools may argue that they’re more likely to earn higher incomes upon graduation, but Dale’s study found that while incomes stayed roughly the same regardless of your alma mater.
via Ivy League education: No longer worth it? – Sep. 14, 2010.