Is a "name brand" education worth the money if you don't get that coveted scholarship you applied for and/or don't have tons of cash saved to cover the tuition and fees required? Hard to say. A lot depends on what you want to do and, of course, how much debt you are going to incur in the process.
Some jobs, like becoming an elementary or high school teacher, simply require that you have the proper credentials. Whether you go to a state school or a highly prestigious private school, you will be just as "qualified" once you achieve the necessary certifications. In this case, "name brand" really doesn't matter -- your hirability and beginning salary will be essentially the same, regardless of the prestige (or lack thereof) attached to your alma mater. Any raises you receive will be based on the numbers of years you've taught, along with any advanced degrees that you obtain and/or higher positions that you achieve. (At least that's how the current system works.) If this is the type of job you are hoping to do, you might not want to incur a ton of debt if you can find a strong program at a nearby, cheaper school.
Other jobs, particularly ones at some of the most well-known and revered corporations, favor fancier pedigrees. These companies may choose not to hire and/or promote those who are lacking a "brand name" education. Starting pay might also differ according to the institution's name from which you were graduated. Raises might reflect this discrepancy as well. Thus, if you are hoping for a highly competitive job where titles matter and/or the competition is especially fierce, the added prestige of a top-notch university may be worth the investment -- not only will you have a better chance of getting hired, but you may end up with a more desirable starting salary, as well as a better chance of moving up in the company.
Before deciding whether or not to go searching for loans to pay for your "brand name" education once your acceptance letters begin rolling in, think long and hard about what career you might like to pursue, how much debt you can reasonably afford to take on (and pay back), and which school seems to have the best preparatory programs for the possible careers you are considering. While higher education shouldn't necessarily be all about the job and/or salary you will one day be able to get, you do need to keep your "return of investment" in mind as you decide how much debt to absorb. All things being equal, it just makes sense to attend the best program at the best school you can get into and afford. Still, all things aren't always equal. At that point, you really need to weigh the pros and cons of taking on a significant amount of debt before signing on the dotted line and packing your bags. The higher price tag may or may not be worth it, depending on your future plans.
All the best and much success,
Katy Huller
Author of 28 Ways to Stand Out, Get Noticed, and (Hopefully) Get Into Top Colleges
Some jobs, like becoming an elementary or high school teacher, simply require that you have the proper credentials. Whether you go to a state school or a highly prestigious private school, you will be just as "qualified" once you achieve the necessary certifications. In this case, "name brand" really doesn't matter -- your hirability and beginning salary will be essentially the same, regardless of the prestige (or lack thereof) attached to your alma mater. Any raises you receive will be based on the numbers of years you've taught, along with any advanced degrees that you obtain and/or higher positions that you achieve. (At least that's how the current system works.) If this is the type of job you are hoping to do, you might not want to incur a ton of debt if you can find a strong program at a nearby, cheaper school.
Other jobs, particularly ones at some of the most well-known and revered corporations, favor fancier pedigrees. These companies may choose not to hire and/or promote those who are lacking a "brand name" education. Starting pay might also differ according to the institution's name from which you were graduated. Raises might reflect this discrepancy as well. Thus, if you are hoping for a highly competitive job where titles matter and/or the competition is especially fierce, the added prestige of a top-notch university may be worth the investment -- not only will you have a better chance of getting hired, but you may end up with a more desirable starting salary, as well as a better chance of moving up in the company.
Before deciding whether or not to go searching for loans to pay for your "brand name" education once your acceptance letters begin rolling in, think long and hard about what career you might like to pursue, how much debt you can reasonably afford to take on (and pay back), and which school seems to have the best preparatory programs for the possible careers you are considering. While higher education shouldn't necessarily be all about the job and/or salary you will one day be able to get, you do need to keep your "return of investment" in mind as you decide how much debt to absorb. All things being equal, it just makes sense to attend the best program at the best school you can get into and afford. Still, all things aren't always equal. At that point, you really need to weigh the pros and cons of taking on a significant amount of debt before signing on the dotted line and packing your bags. The higher price tag may or may not be worth it, depending on your future plans.
All the best and much success,
Katy Huller
Author of 28 Ways to Stand Out, Get Noticed, and (Hopefully) Get Into Top Colleges
 | 28 Ways to Stand Out, Get Noticed, and (Hopefully) Get Into Top Colleges will help give middle school and early high school students an insight into what they need to do to increase their odds of getting into a TOP college. Filled with quick facts, helpful tips, and tons of actionable ideas, this book is a "must have" for any high-achieving student interested in finding a way to stand out from the thousands of other extremely bright students vying for his or her acceptance letter and/or scholarship award. |
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