The Advantages of Attending a Competitive College

 

Studies confirm that attending a more competitive college strongly impacts future success, leading to far higher graduation rates, better access to post-graduate education, and greater earning power. However, there are many barriers that prevent qualified public school students from applying to a more competitive school. Many students feel that they don’t have a good chance of gaining admission, that they can’t afford the tuition, that the work will be too demanding, or that they won’t get the support they need to succeed. The reality is that qualified applicants from lower income and minority backgrounds are highly sought after, and will get better financial aid and have more support at more competitive colleges.

 

WHY ATTENDING COLLEGE IS AN ESSENTIAL INVESTMENT

 

You can increase your lifetime earnings by 3 MILLION DOLLARS

 

On average, this is how much you will earn with a full-time job (after age 30)

Education Level

Average Yearly Salary

Average Lifetime Earnings

Less than grade 9

$23,075

$923,000

Some high school

$28,209

$1,128,360

High School Degree

$34,221

$1,368,840

Some College

$40,751

$1,630,040

Associate’s Degree

$41,757

$1,670,280

Bachelor’s Degree

$60,660

$2,426,400

Master’s Degree

$74,294

$2,971,760

Professional Degree

$113,908

$4,556,320

 

 

WHY IT IS IMPORTANT TO GO TO THE BEST SCHOOL POSSIBLE

 

1- The more competitive the school, the more you will earn, despite tuition differences

 

  • If you graduate from a large, less competitive public institution (i.e. CUNY), in your lifetime you would make 20.3 TIMES the tuition that you paid.

 

  • If you graduate from a large public research institution (i.e. SUNY-Binghamton), in your lifetime you would make 31.7 TIMES the tuition that you paid.

 

  • If you graduate from a top-tier private research institution (i.e. Columbia), in your lifetime you would make 57 TIMES the tuition that you paid.

 

2- Competitive schools provide more financial aid

SCHOOL

Number of Financial Aid Applicants

For each government dollar given, students received

Princeton (Highly Competitive)

2,228

$1.42

Harvard (Highly Competitive)

8,399

$0.98

SUNY Albany (Less Competitive)

10,510

$0.06

CUNY (Less Competitive)

108,961

$0.04

 

 What does this mean?

 

  • Highly competitive schools tend to have more money to give out in financial aid.
  • Highly competitive schools tend to have far fewer students applying for this financial aid.
  • Therefore, students who qualify are likely to get more financial aid at more competitive schools.

 

3- Lower income students benefit most from competitive schools

 

Graduation Rates

Students with the SAME SAT SCORES at schools separated by competitiveness showed that low income students have significantly higher graduation rates at the more competitive schools:

 

Low Income Students’ Graduation Rates

 

Most Competitive Colleges

Second Most Competitive Colleges

Third Most Competitive Colleges

Least Competitive Colleges

 

Lowest Income Quartile

 

76% graduation rate

 

61% graduation rate

 

60% graduation rate

 

40% graduation rate

 

Second Lowest Income Quartile

 

85% graduation rate

 

63% graduation rate

 

58% graduation rate

 

53% graduation rate

 

 

 

4- Beyond money: Competitive schools open doors

 

According to a 1988 study that tracked 400 students who graduated from schools of different ratings, graduates of the most competitive schools had:

  • Better work conditions
  • Greater fringe benefits
  • Lower unemployment rates
  • Lower rates of disability
  • Better investment choices
  • Higher participation in community service



References

 

“College Choice and Wages:  Estimates Using Female Twins.”  Behrman, Rosensweig, & Taubman.  1996

“Rich Colleges Receiving the Richest Share of U.S. Aid.”  The New York Times.  November 9, 2003.

“Socioeconomic Status, Race/Ethnicity, and Selective College Admissions.”  Carnevale and Rose. March, 2003.  The Century Foundation.

Lecture: “What is a College Education?”  Long, Bridget Terry.  October 9, 2003.  Harvard University Graduate School of Education.

 

Long, Bridget Terry.  September 20, 2003.  Harvard Graduate School of Education.