When you’re 18 the only things that matter are fun and getting into college so you can have more fun.
But if you’re ambitious, what can you expect when after sending your life and soul in an application package to one of the eight Ivy League schools? Here’s the answers:
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If you’re interested in learning whether you should spend the big bucks (~$50,000) to attend one of these Ivies, Laurence Kotlikoff, professor of economics at Boston University, says hold your horses:
A recent study by economists Stacy Dale and Alan Krueger showed that going to more selective colleges and universities makes little difference to future income once one accounts for the underlying ability of the student. Their work confirms other studies that find no financial benefit to attending top-tier schools.
Basically, if you are ambitious and smart, you can have as successful a career as Harvard’s Mark Zuckerberg. But don’t get too cocky. There’s a clear advantage to waving around a degree from Harvard when it’s time to open doors.
Regardless, these are all important points teens and parents should consider as the cost of college has made the Merchant of Venice blush.