Monday, July 2, 2012
Ivy Students Have Less Debt - Not Sure Why
Through this blog, I just learned about the Institute for College Access & Success, what looks to be an admirable organization founded to "to make higher education more available and affordable for people of all backgrounds. By conducting and supporting nonpartisan research, analysis, and advocacy, the Institute aims to improve the processes and public policies that can pave the way to successful educational outcomes for students and for society." The Institute issued a research report showing that although Ivy League colleges tend to cost the most, their graduates leave the four years with the lowest debt of any group of students with debt. The average debt for all college students today hovers around $25,000. Now, looking at Brown, the averages sync, at close to $22,500. Cornell came in at close to $21,000. But Harvard was half that at $10,000 and Princeton half that again, at a little over $5,000. Is it that some of these schools provide more aid because of huge endowments, or that parents on the whole are wealthier and can pay for more costs at the start? I don't know. But I hate to say it -- looking at some of these schools, I'd have to say it pays to go Ivy.