In an article featured on the Huffington Post, CBSMoneyWatch.com Editor-in-Chief Eric Schurenberg argues why an Ivy League education is worth the financial investment. Though Schurenberg acknowledges that smart kids can succeed at any school, he maintains that there is some return to be gained from paying for a highly selective private university.
Believe me, I wish a) I could believe that, so that I could b) treat my daughter’s college as a discretionary expense not an investment, and c) send her to Montclair State and apply all the money I saved to my aching 401(k). But a) I don’t, and b) it isn’t, and c) I can’t …
So this year, I’m going to join the anxiety-ridden hordes and gamble that an expensive education is a good investment in my kid’s human capital. Does it burn me that so much of my tuition dollar will be spent on fancy gym facilities and gourmet dining halls? Don’t get me started. Is there a hint of parental vanity in all this? Guilty as charged. On the other hand, my daughter earned the grades that put her in the running for these colleges. So she did her job. Now it’s my job to fund the education she earned.
Read the whole article here.