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Harvard's name is renowned - there's not doubt about that. Swarthmore may be well respected, but it shies in comparison to Harvard's reputation.
That being said, here's my advice:
You should figure out which is the more important priority (the immediate and long-term benefits of a solid undergraduate education, or the future benefits of world-renowned recognition).
Before I go any further, I admit that I'm by no means a pro-Harvard guy at all. I'm heading off to Princeton in the fall. I just thought I'd clear that up.
Ok, so once you've figured out what's more important to you - you go from there. I suggest you visit Harvard, if possible, to get a feel for the ambience there.
If you can't make it over there, then I really think you should go to Swarthmore. It already seems like that's where your heart is set! It's often difficult for students to turn down Harvard. It may feel like you're throwing away a treasure. But honestly, for undegrad: Harvard is hardly a gem. Schools like Princeton, Dartmouth, and the big LACs like Williams and Amherst offer a way better undergraduate experience to their students. Harvard students are, unfortunately, unhappy as a whole with their experience. I've read that the professors there (while they may be well-known) are scholars and researchers FIRST and teachers SECOND.
When asked if he could teach an intro to Art History course, one Harvard Professor said something to the effect of, "It is unfitting for a self-respecting scholar to go down to that level." TA's teach many classes and get less than 1/3 of the fully tenured prof's salaries. Again, the profs. are Scholars/Researchers first and teachers second.
You may find that at Swarthmore, this is not the case at all. I almost applied to Swarthmore but I was already applying to several schools so I ended up not applying. But from everything I know about Swarthmore, it truly is a respectable school where the undergraduate student matters - and where s/he graduates with a solid education: prepared for a demanding grad school program. You won't find the same stereotype @ Swarthmore that you will at Harvard with regard to academics. People seem to think that all Harvard kids get a nice diploma and a report card full of A's as soon as they set foot on the campus. You may want to find a more challenging school where the professors will care about you individually.
Think about it carefully. Don't rule Harvard out right away. If you can visit - make every effort to! You may find that you like it there. Maybe it's your type of place. Everyone is different. Just don't let Swarthmore slip through your fingers because of Harvard's name. There are definitely better schools for undergraduate!
Good luck to you!!
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