Are Elite Colleges Worth IT ?????

The primary thing that a student focus while applying to different colleges is its name. A student’s dream is to get into IIT that’s it! He doesn’t even think that it doesn’t ends there. He has to perform well in IIT as well to get a degree! But that’s a human nature. If you make it to the best then you owe a life otherwise it is useless to live.

Economist Alan Krueger along with Stacy Dale conducted a research on this topic that whether the brand name is actually that much important or not. Many factors are considered while selecting a college but most parents and students are particularly interested in the potential economic pay offs from the higher education. Until recently, there was a consensus among economists that students who attend more selective colleges – ones with tougher admission standards – land better paying jobs as a result. Having smart, motivated classmates and a prestigious degree were thought to enhance learning and give students access to job networks.
But is it true?

According to the data collected by the Mellon foundation, the average student who entered a highly selective college like Yale, Swarthmore or the University of Pennysylvania in 1976, earned $92,000 in 1995. The average student from a moderately selective college , like Penn State, Denison or Tulane, earned $22,000 less.
The problem with this comparison is that students who attend more selective colleges are likely to have a higher earnings regardless of where they attend college for the very reason that they were admitted to more selective colleges in the first place. 
This problem is known as selection bias. More selective schools accept students with greater earnings potential, and students with greater earnings potential are more likely to apply to more selective schools. Krueger restricted the comparison to students who applied to and were accepted by both top and average colleges.

According to the result, the average earning for 519 students who were accepted by both good and average colleges varied very little, no matter what kind of college they attended.

One group of students, however, clearly benefitted from attending a higly selective college: those from lower income families –defined approximately as the bottom quarter of families to send children to college. For them attending a more selective school increased earnings significantly.

The conclusion of the research and advice of Dr. Krueger was à “Don’t believe that the only school worth attending is one that would not admit you. That you go to college is more important than where you go. Find a school whose academic strengths match your interests and which devotes resources to instruction in those fields. Recognise that your own motivation, ambition and talents will determine your success more than the college name on your diploma.”

This research was analysed in the Indian context and found that its true. Even if you don’t make it to the IITs or Stephens, you could still touch the success if you have an interest in the subject you are studying. If you don’t choose the right subject, or better put it this way that if you don’t have interest in Science, no matter which college you get, the struggle will be on throughout.

Shout Loudly "Grow Up Once Again"

Submitted By:-
Rishav Kumar
Campus Leader at Aalizwel.com