Cornell vs UVA (debt vs no debt)

You seem like you really want to go to Cornell and you want people to validate your decision.

The thing is, the decision to take on debt - any amount of debt - over no debt is really a very personal decision. Only you can decide if it’s “worth it”. $40,000 of debt for Cornell is a very good deal, and you could pretty easily repay that no matter what you choose to do post-college - as I think it’s reasonable to expect to make at least $40K in your first job out of college. It also means that the majority of your loans will be federal loans, which is important because federal loans have some perks (income-based repayment, deferment for financial hardship) that many private loans do not.

Lots of people will say all kinds of things. It’s all a matter of personal opinion. Personally, I don’t think it’s worth it to borrow $60,000 to go to HYP if you have a perfectly awesome alternative that won’t cost that much. UVa is an excellent university, widely known as a “public Ivy,” prestigious etc. Why saddle oneself with $60K of debt when you can go to an excellent university without doing so? HYP does have advantage in Wall Street et al., but UVa does, too.

That’s because you are 17 or 18, and you haven’t faced the reality of living independently yet. And I say that not to be mean - but because I remember being there. Everyone has high hopes for themselves when they are a teenager; nobody ever thinks that their start-up will go south, or that their market might crash, or that they might get laid off or whatever. But these things do happen and you want to be able to have a manageable amount of debt that you could comfortably repay if you have to tread water for a little while. $40K is in that range; I think $60K is out of it, and $75K certainly is.

You also seem fairly certain about what you want to do, which is great, but people change their minds all the time - even after years of certainty. I’ve worked with undergraduates at Columbia (so young people poised to do all kinds of wonderful things). I’ve seen pre-med students decide to do Teach for America for a few years first, pre-med students not get into medical school, engineering students decide to take lower-paying but more interesting jobs, economics students be unable to find the high-paying finance job of their dreams, and a pre-med formerly future anesthesiologist who instead decided he wanted to open a nonprofit to help urban adolescents. While you may never change your mind - you want to give yourself cushion to explore, to try things out, to let your career develop naturally with as few constraints as possible.