What makes a “great university?”
When our daughter was applying to colleges, she visited a bunch of college campuses but ended up applying to only two. One was Washington University in St. Louis, which was only a few blocks from where she grew up. The other was Colorado State University in Ft Collins, which she saw on her big college campus tour.
Since my wife worked at Washington U, our daughter could have attended WU tuition-free. And Wash U’s tuition benefit extended to any college or university at half of the Wash U tuition, which was equal to or exceeded the tuition at any state university.
Friends of ours at the time said that surely we would make her go to Wash U. When I asked why, they told me: “because Wash U is a great university.”
Here’s the deal. When people talk about a “great university,” they’re usually referring to the research reputation of the university. And the top universities are research universities. Since research is always and everywhere a cost center, universities have to subsidize research. Why do they do it? Because of the positive externalities. Tuition and philanthropy are two of the major ways research universities subsidize research. A strong research reputation is a magnet for philanthropy. And parents want their kids to go to a prestigious university, even though (a) most undergrads never do research and (b) top research faculty don’t teach undergrads.
This is what I told my friends. In the event, our daughter graduated with honors from CO State. Wash U paid all her tuition. She then matriculated at Wash U School of Law with a full-tuition merit scholarship. Since graduating, she’s been a successful immigration attorney, which was her career choice.
Does it repay the effort and expense to attend an elite research university? That’s up to the trainee. I’ve known plenty of people who trained at elite research universities and who ended up in careers they could have found out of a state university. There’s certainly nothing wrong with attending an elite university. But it’s not clear to me that the premium will be repaid.
Joel:
I always told my three to go to a college or university where they want to. And you will know such by what funding they make available to you. Being a soccer player helped and good grades in high school were more important.
The oldest ended up at Lake Forest (north of Chicago). The younger son went to Ohio Wesleyan, played soccer there, and earned a degree which he uses today. Here again, it was knowing if they wanted you. The clue was financial aid as neither were lowcost colleges.
My daughter ended up at Niagara. She never adjusted to the college life and after a year dropped out. Which was fine. I think mostly it was not being mature enough at the time. She did end up in a school for nursing. Received her degree, She found her niche and is now a Charge Nurse. My last visit to Denver? I ended up in University of Colorado hospital where she works.
Mostly and as I would tell them, do the basics in the beginning. Give yourself some time to determine and decide what you like. If you have an opportunity, talk to people who may have knowledge of what you “think” you would like to do after college.
Both Jan and I paid off those college loans also (what was left of them) for all three. And cost is another factor.
Joel:
You are “very – right” on this:
“plenty of people who trained at elite research universities and who ended up in careers they could have found out of a state university. There’s certainly nothing wrong with attending an elite university. But it’s not clear to me that the premium will be repaid.”
One advantage of “great universities” is access to recruiters who are looking for top tier students, likely for the same reason such students might choose the university. Another advantage in STEM is university connections with startups and industrial liaison programs offering internships. I gather that there are similar advantages for various non-STEM majors who would benefit from connections to the music, theater, film or visual arts worlds.
There are also “great universities” because they have at least one very good program or suite of programs, for example, at the Colorado School of Mines or, at least in the good old days, Cooper Union for architecture.
Then, there are the national and worldwide “great universities” and the regionals.
The thing is that one doesn’t have to go to a “great university” to get a good education and get a start at making one’s way in the world. Sometimes it’s more about fit and finding one’s people.
I think a good analogy would be looking good. People who look good, are pretty or handsome, can find it easier to get a foot in the door. This goes for men and women though different beauty standards apply. This only gets one so far, but, used properly, it can work to one’s advantage just as having a degree from a “great university”.
@Kaleberg,
A freshman classmate who saw my high school yearbook pic said I looked like a KGB agent.
I have been telling readers to be careful around you . . . Joel, that is funny. Obviously, your wife thought differently!
I attended a top 10 MBA program and that allowed me to command premium salaries throughout my career. I thought it was a good program, but I have this gnawing suspicion that employers relied on the university’s selectivity process and name brand as a talking point in favor of my hire and as a kind of insurance against making a bad hire.
OTOH, I think that there should be a constitutional amendment prohibiting the eligibility of any presidential candidate who had been trained at any Ivy League school attended by one of the last 5 presidents. (Separate prohibition would have been required for Biden.)