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Their being a public school did not deter their grads from getting into these top Private Equity Firms and head-to-head with grads from some insanely expensive private schools. Looks like UMich, Cal and UT are a good deal after all. It offers faster RIO too
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Considering the extremely generous financial aid that the top private schools are now offering, I have to question who is really offering the faster ROI these days.
For example, I strongly suspect that most people would find Harvard to actually be
cheaper than their flagship state school. Harvard's new financial aid policy caps total costs (tuition, room, board) to at most 10% of family income for anybody whose family makes up to $180k (and has the typical assets for such a family income). Hence, such a person would pay $18k a year for everything, all in (i.e. room, board, etc) That same person, if he's a California resident, would pay $21-25k a year, all in (unless he were to live with relatives). That's because somebody whose family makes $180k is not going to get any financial aid from Berkeley. The bottom line is that for most California state residents, Berkeley actually costs
more than Harvard does.
Harvard announces sweeping middle-income initiative — The Harvard University Gazette Undergraduate Budgets 07-08
The only people who would have to pay more to attend Harvard rather than Berkeley are the rich, and I doubt that they care about the extra cost anyway.
The bottom line is that, if you want an absolutely fabulous financial deal, and you're not rich, don't go to your state school. Go to Harvard. I never thought I would say that, but it's now true. What I find to be ironic and sad is that public schools purported are supposed to offer a superior financial deal to their state residents. But they're not, at least, not anymore. The best deals are to be had at, ironically, the top private schools. Strange but true.
Now, of course, I say "glibly" that everybody should just go to a top private school. Obviously not everybody can do that, as only a small percentage will get in. But that statement is actually not glib at all, for it actually illustrates the basic point: the public schools are now (sadly) serving as the backup plans for those students who simply
weren't good enough to get into one of the top private schools, where they would actually be able to pay
less (unless they're rich).
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grads of large schools go to diff sectors. Do you think all those 20k students of cal would like to go into IB?
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Well, grads from the smaller schools also go to diff sectors. Not every Harvard graduate wants to do private equity or IB either.
Now, I think what you meant to say is that the
percentage of students at the larger public schools who want to get into PE is lower than that at the top private schools. That is probably true, but I doubt that it is by enough to compensate for the large differences in absolute numbers.