Ivy or Free Ride

There has been a lot of discussion about majors, particularly when it comes to salary and a young adult paying back a $60,000 loan to Yale. Somebody asked what a biology major might earn, since this student expressed an interest in research.

My daughter (biology major, out of school for almost 2 years, current job is not in research) was just offered a job at a very well known facility. She would be working alongside medical researchers, doing a variety of different tasks. The salary is just under $60,000 a year, and it comes with benefits.

She turned it down to focus on returning to school. I posted this to let people know what is currently available to recent (or relatively recent) college graduates who major in biology.

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How is the COL in the area? What does the salary progression look like? $60k in loans on a less than $60k salary is a ton.

Cost of living is high here and I agree 100% about the loans. One would have to live very frugally to pay them back.

IMO the job you get in this field is going to depend on the resume you develop while in undergrad, and not on the school that is written on the diploma.

Not sure what the salary progression is. I think most who take this position use it to gain experience for grad/med school.

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I would choose Pitt only if you are absolutely 100% certain you will go in to the medical field. Yale otherwise.

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I think what people forget is $60K is a lot of money.

$15K a year for college is cheap - but it’s still $15K.

My daughter will cost me $30K a year. My son is costing me $20K a year. I’m getting off cheap.

But it’s still a ton of $$.

With bills comes stress.

Doesn’t mean one choice is right and one isn’t.

I think the “stress” factor is not factored in - will this stress out the family and / or student.

It’s risk / reward. I, for one, don’t have the stomach for the big payments if I had an opportunity to avoid them.

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Hi everyone,
Just wanted to give a final update. My son committed to Yale. They worked with us on the financials and came down even below Penn. My son also won a scholarship that should knock off the student contribution. So after much thought this is what he decided and we support him 100%. Thanks everyone who took the time to give me advice. It was a lot of food for thought and really appreciated.

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Congratulations and good luck!

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Great for your son

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Congrats, and welcome to the Yale family. There is a really good Facebook group for Yale Parents and Families. Lots of helpful parents that can answer just about any question. Your S will have a wonderful 4 year experience where he can satisfy his many intellectual curiosities.

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Congratulations ! :clap:

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This speaks well of Yale.

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Excellent! Thanks for letting us know…

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I so love good news updates!

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Wonderful news! Congrats to your son!

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Nice to hear your news. I was hoping you would find a way for your student to go to Yale. We had a similar experience back in 2014 when our son was accepted to Princeton. We have always been so glad that we made the decision to ensure he could go. I imagine Yale will be the same experience for you.

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He should do the free ride. Debt-free will help him get a leg up on wealth building. As an example of how well he can do in life without an Ivy League school, according to Forbes, These NON-Ivy schools have over 60 alumni that are billionnaires combined: Stanford, USC, Michigan, Duke, MIT, UCLA, MSU, NYU, and Berkeley. Just saying that to display that he doesn’t need to be at an Ivy to wealthy, but if he wants to network with wealthy people, then that would be a factor. It is definitely up to what his goals are but UDEL and Pitt are great. PITT is seriously great, I know some amazing PhD faculty there.

The decision has been made and the student is going to Yale (post 365). No need for other opinions at this point – just well deserved congratulations. Closing thread.

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