<p>I know what you’re thinking: if you have the choice of public or private, choose private. But it is not that easy. I live in Virginia and am a current community college student with a 4.0gpa. I was planning on transferring to UVA or William & Mary (which are both considered “public ivies”) until I got a recruitment letter from University of Pennsylvania asking me to apply there. Until now, I hadn’t considered going to an Ivy League school as a possible option. I know the letter doesn’t guarantee me acceptance; but it represents possibility. Here’s my dilemma: Is an Ivy League degree worth $100k if paid by loans? I could go to UVA or WM for around $10k a year x 2 years = $20k, or go to Penn $50k x 2 = $100k + whatever credits they don’t transfer (almost all my credits will transfer to UVA or WM). Also, I am a non-traditional student, so I would be in Penn’s LPS program vs. UVA or WMs traditional programs (another thing to consider).</p>
<p>Please give your honest opinion. I don’t want money to be the deciding factor, but I also want to make a smart decision. I imagine I could get a better job with an Ivy degree, but I don’t know if the difference will be that significant compared to a top state school.</p>
<p>Ivy Leagues have great financial aid awards. You will have 0 loans at Penn, with 100% of need met with grants and work-study. It might even end up being cheaper than UVA and William and Mary (which are great schools by the way).</p>
<p>It should give you an idea of how much it would cost you.
By the way, all the Ivies have extremely low transfer acceptance rates. Penn’s most recent rate was 9%, with 197 of 2096 applicants accepted. Of transfer applicants, 97% were from 4 year schools (most likely other Ivies lol) and 3% were from 2 year schools. Source: <a href=“BigFuture College Search”>BigFuture College Search;
<p>In light of that information, go for it at Penn but don’t bet on it. You can just as easily be successful at schools such as UVA and William and Mary.</p>
<p>^Does Penn LPS cover 100% of need with no loans like Penn does? I ask because I know that Columbia GS has a different, less generous FA policy than Columbia College does for UG.</p>
<p>Is an Ivy League degree worth $100k if paid by loans?</p>
<p>ABSOLUTELY NOT. Would you go out an buy a home right now if you had to take out a $100,000 mortgage? Because THAT is the kind of debt that you’re talking about . AND, unlike a home mortgage, if something goes wrong, and you end up with a lower paying job, or are even jobless, like 50% of college graduates these days-you are ON THE HOOK for the $100,000 student loan -forever. It cant be eliminated in case of bankruptcy. </p>
<p>“Also, I am a non-traditional student, so I would be in Penn’s LPS program vs. UVA or WMs traditional programs (another thing to consider).”</p>
<p>Then go to UVA and get a fully accredited ,lower cost UG degree.
Dont let “Ivy Envy” blind you.</p>
<p>@ jushyosaha604 - The LPS program is easier to get into than transferring into the traditional program (although still difficult). I spoke with an admissions rep. for LPS and was told they prefer CC students because they seem to do better when given a chance.</p>
<p>@ entomom - Thanks for the link. I checked it out and it seems Penn doesn’t cover 100% need for LPS students. </p>
<p>@ menloparkmom - I agree with you. If I’m able to get aid/grants (and get accepted) I’ll probably go to Penn, but I know I shouldn’t borrow that much money. Btw, the Penn LPS program is the same as the traditional one, with the same professors and requirements; unlike some of the other programs like Columbia’s that are totally different than their traditional program.</p>
<p>If anyone else would like to chime in on the value of an Ivy League degree versus a top state school, your opinion is welcome.</p>
<p>I won’t be transferring until Fall '14, but I’m trying to decide which Associate’s to choose, and therefore which classes to take next semester. I’m really interested in Penn’s Politics, Philosophy, and Economics Degree, but if I go to a state school, I’ll probably major in economics (a social science at UVA), or finance or accounting (business) at either UVA or WM.</p>
<p>UVA has an excellent business program. Ranked #5 in the nation IIRC. Of course, Wharton is #1 but it looks like you aren’t applying to Wharton. I think UVA is the better choice but just my opinion.</p>