Can't afford Northwestern

Colleges & Universities Northwestern University
20

Dear @fizzile,

If it’s truly your dream to go to Northwestern, then don’t give up so easily! The truth is that sometimes student loans are worth it. If you think of a degree from NU as an investment, then, yes, there is a steep upfront cost, but, depending on your career aspirations, there can ALSO be a very long tail (e.g. 35-40 years or more!) of a sizeable return on that investment in terms of the salary and other benefits you earn after you graduate from NU.

Yes, NU is very expensive, but everyone knows that including both NU and prospective employers! Here are some ways that NU helps you to recoup your upfront costs for attending:

  1. On-Campus Interview Opportunities - These are amazing! Again, depending on your career aspirations, you can expect that the top employers in your field will recruit on-campus at Northwestern. As a senior, you will have the opportunity to interview with these employers on campus.

  2. Starting Salary & Signing Bonus - As mentioned, employers know that NU is expensive and, know that you will be looking to pay off your loans ASAP. Employers have been known to entice NU grads by offering a higher salary and even signing bonuses to NU grads.

  3. Grad School - Being able to put Northwestern on your grad school application is a big plus, and I’d argue that NU makes more opportunities available to you say you later decide to get an MBA, JD, or even MD from the top programs in the country.

  4. Mid-Career Job Changes - NU has earned a reputation for admitting students who are bright, talented, and “go-getters.” You will benefit from this reputation your whole career. When your resume lands on a hiring manager’s or recruiter’s desk, you can bet that they will be excited to see a Northwestern University graduate who wants to work for their company.

  5. Legacy - If you’re 18, you’re probably not thinking about children, but someday you might have children of your own that also want to attend a top university like Northwestern. Having attended NU yourself, it would make your child a “legacy” admission. NU can change their policy at will, but legacy status is currently considered in admissions decisions. This of course would not be the main reason to select NU, but you can assign some value to it.

It’s a fallacy to believe that there is only “one right way” to achieve your life and career goals. Yes, it’s true that you (or anyone) might find a “less expensive” option than Northwestern and still achieve the exact same goals. However, I would argue that Northwestern offers so much in terms of future opportunities that it expands the number of paths available to you to achieve your life’s goals. In a lot of ways, this “optionality” is what makes a degree from NU so valuable.

Please note that this is all written from my own personal experience, and so the standard disclaimer that your mileage may vary applies here!

Your CC friend,
mrdubya
Northwestern University, BA , 2001
Kellogg School of Management, MBA, 2009

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