Alex Sumption

Mrs. Lohmeyer

ENGL 101

4/15/2018

The decision on whether to attend college might be simple, the answer is yes in most

situations, but the real question is whether to attend an Ivy League school or the average four-

year university. This may be a decision that can be very challenging and may change incoming

students’ lives forever. What is the real answer and why? I believe that college is the best

investment a person can make because the investment is in themselves and it will help generate

more income later in life. I also believe that Ivy League schools are more superior than the

average public university because they give their students a better foundation and more of an

opportunity to succeed later in life when in the workforce; however, attending an Ivy League

school is not an easy task but as tuition costs and SAT scores increase, so does income later in

life. This problem has been debated for many years and this essay will hopefully help students

that are looking for help when in the decision-making process.

Most of the population, including myself, believe that every student that graduates from

Yale, Harvard, Princeton, and the others that fall into the Ivy League category will have a better

foundation going into the work force. This may be correct but does the average four-year

university offer the same opportunity to graduate with the same foundation? We can all agree

that a diploma from Yale might seem more impressive than a diploma from an average state

school, but should it? This question has not been answered but we all know what employers

think. A study done by the US Department of Education revealed that the average university
graduate makes about $40,500 a year. This number is more than doubled by Harvard graduates

which averages out to $87,000 (Crimson Education). This theory is starting to look like a reality

but a diploma from an Ivy League school does not come easy. Stephanie Owen, Isabel Sawhill,

and Jacques Steinberg believe that college is worth the investment no matter how hard it may be

because the return will cover the expenses and hard work (Owen & Sawhill, Steinberg). My

opinion before researching was that Ivy League gives the best foundation to succeed and I feel

more comfortable having this opinion after my research.

A lot of people are asking the question “is college worth it?” There are many different

views and many different situations for this question but Stephanie Owen and Isabel Sawhill

prove that it is worth it in their essay “Should Everyone Go to College?”. They say college is

worth it because a higher education is one of the best investments someone can make (Owen &

Sawhill, 208). One way to see the value of an education is to look at the earnings which have

increased related to an additional year of school. There has been some controversy over this type

of support because the smartest, most motivated people are the ones likely to go to college and

more likely to be successful financially further down the road. Owen & Sawhill also say that the

best studies show that the return to an additional year of school is around 10 percent. This has

created controversy because the naysayers are not saying that college is generating more income,

but more motivated and intelligent students are set for a bright future with college or without it

leading them to believe that the studies are biased (Owen & Sawhill, 209). Owen and Sawhill

state that “the gap in annual earnings between young high school graduates and bachelor’s

degree holders working full time is $15,000… by age 50, the gap has grown to $46,500. When

we look at lifetime earnings—the sum of earnings over a career—the total premium is $570,000

for a bachelor’s degree and $170,000 for an associate’s degree (Owen & Sawhill, 210-211). The
associate’s degree premium is set at $170,000 but that number increases to $620,000 while

attending the most selective private schools, also known as Ivy League schools (Owen &

Sawhill, 211). In conclusion, Owen and Sawhill believe that college is the best investment a

person can make because it is in themselves and makes the biggest return. College graduates

make a substantial amount more than high school graduates but Ivy League graduates make an

even more substantial amount more than the average graduate with an associate’s degree.

Ivy League has a high reputation of sending its graduates out with a good foundation and

a better chance at succeeding. They are also known for their graduates having a very high salary

only a couple years after graduation. Ivy League graduates have a good chance of getting great

jobs for example; of the 113 supreme court justices, 40 percent of them are Ivy League graduates

(Crimson Education). According to a study conducted by the US Department of Education in

2015, a decade after graduating from a four-year public university, the average graduate had a

yearly salary of $40,500. With that being said, most people would say that an Ivy League

graduate would make fifteen to twenty thousand more but that is wrong, by a lot. The average

Harvard graduate will make an astonishing $87,000 a year. Princeton graduates follow Harvard’s

graduates with making an average of $77,900. Every Ivy League school’s graduates make

$59,700 or more (Crimson Education). Most of the Ivy League schools’ average graduates’

salary doubles that of a four-year public university. The debate of Ivy League or non-Ivy League

seems like a no brainer after seeing the stats, but receiving a signed diploma from an Ivy League

school is no easy task.

The theory of hard work generating more return may be true. According to Stacy Berg

Dale and Allan B. Krueger, as tuition costs and SAT scores go up, so does return in the long run.

Past studies have found that students who attended colleges with higher average SAT scores or
higher tuition tend to have higher earnings when they are observed in the labor market.

“Attending a college with a 100 point higher average SAT is associated with 3 to 7 percent

higher earnings later in life” (Berg Dale & Krueger, 1). An obvious concern with this conclusion,

however, is that students who attend more elite colleges may have greater earnings capacity

regardless of where they attend school. This issue has been addressed by the naysayers and the

study is being called biased by them again. Studies addressed by Berg Dale & Krueger have

revealed that as tuition goes up, so does substantial payoff. They also found that attending a more

selective college had an impact on students' grades, graduation rates, and post-college

educational attainment (Berg Dale & Krueger, 3-4). Giving that the student's SAT score and high

school grade point average generate higher salaries later in life, factors such as letters of

recommendation and hours put in on scholarships and other aid to help stay out of debt through

college can also mean higher return after college. Another article that supports this theory is

written by Jacques Steinberg where she says that Ivy League schools are expensive and require a

lot of work but the return overweighs the tuition costs and the hard work that the diploma

required. For example, full tuition and fees at Princeton exceeds the $50,000 mark while at the

average public school, it is less than half of that. Does this cost really seem worth it? According

to Steinberg, it is totally worth it because of the returns that come with the high tuition.

According to professor Edie, “Education is a long-term investment” (Steinberg). This all comes

back to the theory of hard work generating more return. These studies support this theory and

helps show why Ivy League schools could help generate a higher return later in life.

Ivy League schools are known for their low acceptance rates and that creates problems

when high school students are looking for a college that will create the best foundation for the

future. According to the New York Times, in 2010, Harvard’s acceptance rate was only 6.92%.
Princeton’s was only 8.18% while Yale’s was 7.5% (Parker). This means that it is extremely

hard to get a high level of education and may require a lot of work all through high school.

According to Parker’s article, the average Ivy League student will pay $160,000 for tuition alone

compared to the average four-year public university at $40,000 a year (Parker). These numbers

have made people think twice about what university to choose. Sometimes these tuition costs

might not be worth it because in some situations, it depends on the degree the student is pursing.

Naysayers have a very valid argument with this situation. Most of them will say Ivy

League schools give the same opportunity of a public university graduate. I say that may be true

in some degrees and situations but overall, Ivy League is worth the time, hard work, dedication,

and tuition costs because once graduated in a good degree, the return outweighs the costs. Many

of the naysayers will use the studies that are against Ivy league schools. These studies have

found that someone working in a STEM job with only a high school diploma can expect to make

more than a bachelor’s degree in the field of arts, education sales and office, and blue-collar jobs

(Owen & Sawhill, 217). The naysayers may also say that the tuition costs of these private

schools are rising and they will continue that trend, but I say they are wrong because according

to studies, the return rate is rising faster than the tuition rate (Steinberg). I will agree with the

naysayers when they say Ivy League schools are not the correct choice in some situations

because that is true. They are also correct when they say four-year universities cost less but the

return can be way higher once the student is graduated from an Ivy League school.

In conclusion, Ivy League schools seem to be the favorite for studies and writers. The

naysayers will make very many good points and can have some great arguments but the studies

that favor Ivy League schools out weight the naysayer’s arguments. The decision to attend

college may be simple but the decision of whether to attend an Ivy League school or not may be
tough. I believe that college is the best investment a person can make because the investment is

in themselves. This investment will help generate more income later in life and create a better

future. I also believe that Ivy League schools give their students a better foundation and more of

an opportunity to succeed later in life when in the workforce than four-year public universities.

Attending an Ivy League school is not an easy task but as tuition costs and SAT scores increase,

so does income later in life.

Works Cited:

“Does Ivy League Education Make A Difference?” - Crimson Education, 1 Sept. 2017, Date
accessed: 2 April 2018 Retrieved from

https://www.crimsoneducation.org/blog/ivy-league-education?locale=en-US

Steinberg, Jacques. “Is Going to an Elite College Worth the Cost?” The New York Times, The
New York Times, 17 Dec. 2010, Date Accessed: 9 April 2018 Retrieved from

www.nytimes.com/2010/12/19/weekinreview/19steinberg.html.

Berg Dale, Stacy; Krueger B. Allan. “ESTIMATING THE PAYOFF TO ATTENDING A

MORE SELECTIVE COLLEGE: AN APPLICATION OF SELECTION ON
OBSERVABLES AND UNOBSERVABLES.” National Bureau of Economic Research,
1999, Date accessed: 9 April 2018, retrieved from

http://www.nber.org/papers/w7322.pdf

Parker, Tim. “The Value Of An Ivy League Education.” Investopedia, 5 Aug. 2011, Date
accessed: 9 April 2018, Retrieved from

www.investopedia.com/financial-edge/0811/the-value-of-an-ivy-league-education.aspx.

Owen, Stephanie and Sawhill, Isabel. “Should Everyone Go to College?” They Say/I Say. Ed.
Gerald Graff,Cathy Birkenstein, and Russel Durst. 3rd ed. New York: W. W. Norton &
Co., 2015 208-225. Date accessed: 2 April 2018