<p>It’s not just COL differences, but a number of other factors. Seriously, I don’t think you will get many who will turn down MIT for Stevens because the name brand luster is real not just the sparkly. The question comes down to how much more it is worth when the money is coming out of your own pocket or in the form of loans at 6-8% interest, maybe more. The other thing one must keep in mind is that the those graduating from MIT may have a lot more in terms of opportunities than those from Stevens, in that the families that tend to send their kids to MIT, have more wherewithal and connections to place a kid. A lot of kids who have to do it all themselves coming out of school like Stevens. The MIT grads I know , have several situation that friends and families in the know have already lined up for them. Not to mention the MIT network. So the jobs available in the higher ranges tend to be more readily available to those from the name schools. I don’t deny that for an instant. The gap, however, is nothing like it is, for those who go into a liberal arts curriculum and taking two colleges like Harvard and Private Not Well Known U.</p>