My first reaction is that Melbourne is a great university. Having a safety that is this exceptional does indeed allow you to otherwise only apply to reaches. In fact, only applying to Melbourne and no where else would not be all that bad of an idea.
There is of course some challenge in interpreting your grades since most of us here on CC are from the USA, with a few of us being from other countries (there are a few Canadians for example on this web site), and a few of us having roots in two countries (the USA and Canada for me). However the large majority of us are not Australian. I wonder how your grades compare to others in your country. Generally, to have a good chance at the highest ranked universities in the US, you need to be relatively close to the #1 student in Australia who happens to apply this year, and there will be many years that any one top ranked university in the US accepts no students at all from Australia. I actually having studied at MIT (bachelor’s) and Stanford (master’s) and in five years never met any student from Australia (and this included attending international student events at both universities). I have since worked with a couple of excellent coworkers from Australia but both had attended university in Australia.
This makes good sense to me.
By the way, years ago I had a similar situation, in that my safety (McGill, in-province) was strong enough that otherwise I only applied to one reach school.
Are you sure that U.Penn is your #1 top choice? If so, then why is it your top choice? Would you clearly prefer it over Stanford, Harvard, Princeton, and Oxford?
You do not need to apply ED anywhere. The top ranked universities in the US are looking for students who are a good fit for them. If you apply ED you are deciding which school is the best fit for you. If you do not apply ED anywhere then they each get to decide if you would be a good fit for them, and they get it right quite often.
If this means medical school, then do not expect to get accepted to medical school in the US. Medical school admissions in the US is exceptionally competitive for domestic students. The competition is intense. For international students it is way worse. The total number of international students accepted to medical school in the US is tiny (perhaps a few hundred each year).
I do not know what the situation is like for students who get their bachelor’s degree in the US and then want to get a medical degree in Australia. My best guess is that you would probably be better off getting your bachelor’s degree in Australia.
Getting a visa to work in the US after graduating from university in the US is tough. Usually you need an established company to sponsor you. Unfortunately having the intention to start a company might not give you the established company to sponsor you. On the other hand, as others have said, having a bachelor’s degree in psychology or biology from a university in the US is also not likely to motivate any company in the US to sponsor you – there are too many US citizens with a bachelor’s degree in these areas who are looking for jobs.
Also, immigration is a controversial political issue in the US right now. I do not know where this issue will be in four years. Some people would like legal immigration to be expanded and illegal immigration to be stopped, but that would involve rational thinking to enter US politics, and I would not count on this happening over the next four years, or ever.
With a US citizenship or permanent residence, UC Berkeley and UCLA are about as good as any universities in the US. Without the legal right to work in the US, no. It is not easy to get any job in the US.
In the unlikely event that you do get accepted to a highly ranked university in the US and choose to attend, then definitely attend the welcome reception for international students. You might be amazed who you will get to meet. I walked away from these welcome receptions twice with the thought “how did I get accepted here”, but also having met some people I otherwise would never have had the chance to meet.
You might want to consider getting a bachelor’s degree in Australia, but taking either a semester or a year abroad either in the US, or Canada, or the UK. You might want to take a close look at the exchange student program at the University of Melbourne.
This does relate to why I attended university in the US as an international student. One issue however is that immigration is becoming increasingly politicized and unpredictable.
One realistic option is to get a bachelor’s degree in Australia and then get a master’s degree or some other graduate degree in the US.
This really comes down to two issues. The visa or legal right to work in the US, and the state of the economy at the time that you graduate university. Both are very difficult to predict years in advance.
There are hundreds of universities in the US that are very good. One person I know very well got their bachelor’s degree at a school ranked in the 100-120 range, and then got two related master’s degrees at an Ivy League school. Another got their bachelor’s at a school ranked in the 100-130 range, and then got a doctorate (DVM) at a school ranked in the top 5 in North America. One daughter is currently getting a PhD at a highly ranked (top 30) school in a biomedical field, and the various students in her program come from a huge range of colleges and universities, some of which I have never heard of. Somewhere like Rutgers or U.Mass Amherst or one of the SUNY’s are all very good schools. I do not see why anyone from Australia would prefer any of these schools to U. Melbourne or to U. Sydney.
One problem. When applying for a student visa to study in the US, if you tell them that your intention is to stay in the US after graduation, that will be grounds to deny your student visa.
There might be three things that I would overall recommend for anyone applying to any top ranked universities in the US. One is to have exceptional grades. Another is to treat people well. This will help you get good letters of reference. In terms of ECs, I recommend that you do what is right for you, and do it very well. What is right for you, what is right for me, and what is right for some other student, may be almost entirely different things. You might also want to read the “applying sideways” blog on the MIT admissions web site. While MIT is not on your list, the same approach is a good one for other top universities, including any of the schools in the US that are on your list.