Is an Ivy League Diploma Worth It?

Melissa Korn:

Daniel Schwartz could have attended an Ivy League school if he wanted to. He just doesn't see the value.

Mr. Schwartz, 18 years old, was accepted at Cornell University but enrolled instead at City University of New York's Macaulay Honors College, which is free.

Mr. Schwartz says his family could have afforded Cornell's tuition, with help from scholarships and loans. But he wants to be a doctor and thinks medical school, which could easily cost upward of $45,000 a year for a private institution, is a more important investment. It wasn't "worth it to spend $50,000-plus a year for a bachelor's degree," he says.

As student-loan default rates climb and college graduates fail to land jobs, an increasing number of students are betting they can get just as far with a degree from a less-expensive school as they can with a diploma from an elite school--without having to take on debt.

Posted by Jim Zellmer at November 8, 2011 4:01 AM
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