Does It Matter Where You Go to College?
Research suggests that elite colleges don’t really help rich white guys. But they can have a big effect if you’re not rich, not white, or not a guy.
(1) “The difference we found is that college selectivity does seem to matter, especially for married women, by raising earnings almost entirely through the channel of increased labor force participation,” she says.
If you’re not an economist, that might sound complicated. But it’s pretty simple. For the vast majority of women, the benefit of going to an elite college isn’t higher per-hour wages. It’s more hours of work. Women who graduate from elite schools delay marriage, delay having kids, and stay in the workforce longer than similar women who graduate from less-selective schools.
(2) ” lower-income students at an elite school such as Columbia University have a “much higher chance of reaching the [top 1 percent] of the earnings distribution” than those at an excellent public university, such as SUNY Stony Brook in Long Island”
(3) ” The simplest answer to the question “Do elite colleges matter?” is: It depends on who you are. In the big picture, elite colleges don’t seem to do much extra for rich white guys. But if you’re not rich, not white, or not a guy, the elite-college effect is huge. It increases earnings for minorities and low-income students, and it encourages women to delay marriage and work more”
What do you think?
(Original link from the WSJ: Calculating the Risk of College)