Are The Elite Private Colleges Worth The Price Of Admission?

It is apparent that college education costs and health insurance are the two arenas that have defied gravity over the past six years through this recovery. With college tuition escalating at a much faster rate than normal information and continued pressing coming on family savings, the average household today may wonder if getting a diploma from an expensive prestigious private college is worth the ticket of admission.

If your son or daughter is lucky enough to have the qualifications to get into the ultra-elite schools (such as Harvard), then my answer is yes. There is a short list of impressive schools that have a strong alumni base stretched out across the United States or have the really high end credentials necessary to help a student make a major impact with their career in the short term.

There are many very good private colleges that cost $50,000 to $60,000 a year beyond the short list of these prestigious school, and these schools may not be worth the money especially if you don’t live in the geographic area where the school is located.

In the state of Georgia, both Georgia and Georgia Tech are ranked in the top 100 schools within the United States. Not only are these excellent schools, but if you plan to live in the state of Georgia their alumni base will be stronger and more beneficial than a prestigious private college located halfway across the country. Often, in-state colleges can be a much better bang for the buck than a private out of state college if you plan to work locally after you finish your education.

Business experience tells me that ‘who you know’ will always trump ‘what you know’, so consider that in your final analysis if you plan to stroke a big check for a private college education. It will be hard to find definitive statistics on this topic, but going to an elite private institution will likely be worth the price of tuition.

Written by: Ted Jenkin

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About the author  ⁄ Ted Jenkin @ Your Smart Money Moves

Ted Jenkin @ Your Smart Money Moves

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Ted Jenkin is a frequent guest columnist for the Wall Street Journal and Headline News Weekend Express. He is the co-CEO of oXYGen Financial. You can follow him on LinkedIn @ www.linkedin.com/in/theceoadvisor or on Twitter @tedjenkin.

Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. oXYGen Financial is not affiliated with Kestra IS or Kestra AS. Kestra IS and Kestra AS do not provide tax or legal advice.

The opinions expressed in this commentary are those of the author and may not necessarily reflect those held by Kestra Investment Services, LLC or Kestra Advisory Services, LLC. This is for general information only and is not intended to provide specific investment advice or recommendations for any individual. It is suggested that you consult your financial professional, attorney, or tax advisor regarding your individual situation. 

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8 Comments

  • Avatar
    May 8, 2014

    I think only in cases where the alumni connection and your major choice makes your future earnings worth the differences in the tuition price from a more affordable school. There are some fields where this is absolutely true and others where it’s a waste of time to go to a more prestigeous school. Harvard law usually nets Big Law jobs where a state school is a more dicey proposition for example. Thanks for the read, enjoyed it!

  • Ted Jenkin @ Your Smart Money Moves
    May 20, 2014

    Thanks for the comments

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