Is an Ivy League education worth it? (#116; Topic E)

Five alumni of St. John's University in Shanghai were invited to another alumnus's home for dinner Saturday, 4/1, probably to celebrate the host's 80th birthday. Reminiscing after dinner, C.F. commented that his first-year tuition upon arriving in USA was $400, about one-tenth of the average annual income of $4,000 in US. (Mine was $500; see #12.) Now, the tuition to an Ivy League school is $40,000, about 40% of a middle-class family's income of $100,000. Since the cover of Washington Post Magazine's special issue on Education (published Sunday, 4/2, but home-delivered 4/1) asked: "Is It [an Ivy League education] Worth It?", we felt that we could offer comments from three different perspectives. One, Shanghai's SJU, which existed until 1952, might be compared to a "Big Three" in USA. Two, many of us, upon arrival in USA, earned graduate degrees from Ivy League schools (among the six of us, at least one PhD from Yale, two masters from Columbia, and an MBA from Penn). Three, many of our children also went to Ivy League schools (our two children and son-in-law have a total of 5 masters and one BA from Penn, and another BA from Yale). The WP article used earnings as the measuring stick -- and answered the question ("Is it worth it?") in the negative. In my view, using quantifiable measures as criteria misses the point. The single most important benefit from going to a prestigious school is an intangible one -- the self-confidence gained from such an association. We conduct ourselves with self-assurance. In the face of adversity we remain calm. This was quite obvious when our children, having graduated, were seeking employment. There was no hurry; wait for the right one; and, lo and behold, the right one did come in due course. Indeed, there is nothing more satisfying than knowing that you are in control of yourself. Come to think of it, this is what Confucius taught us: as a prerequisite to being a useful member of the society, discipline yourself. A brilliant teaching at its very best.
Posted at 9:09 pm, Monday, April 3, 2006