This
is especially true for wealthier Americans and "elite" institutions,
where admission is seen more as a status symbol (like a Tesla or a LV
bag) rather than a vehicle for educating and cultivating a young person
for the benefit of society (a university's true mission). But actually,
the data suggest that graduates of elite schools do not have
significantly better life outcomes on the whole vs. graduates from
"moderate" state schools. Sure, there are some segments where your
pedigree really matters, but do you want to spend the rest of your life
in those circles, surrounded by pompous pricks (some snobby corners of
tech, Wall Street, etc.)?
And of course two major drawbacks of attending an elite private school are (1) debt and (2) a more bubble experience (your peers will be more homogeneous, and you may not get exposure to many real-life challenges that help a student thrive in the adult world). Also, some students may feel complacent that admission is the endpoint - they made it. Life is just about marketing yourself and jumping through the hoops to earn some administrator's approval, and then you're on easy street.
But admission is actually just the start - students should be driven to maximize their precious opportunity and realize that it is just a first step along a path that has many greater challenges and learnings ahead. Students may feel entitled ("I'm going to have a degree from Yale - of course the top employers will want me, I'm so awesome!"), and then lose focus (or even get lazy) - while other similarly-talented students snubbed by the Ivies might have a chip on their shoulder, rededicating themselves at a state school to be the best they can be. And let's be honest - undergrad chemistry or econ at Harvard vs. Texas will be taught at about the same quality (and probably not much better than Coursera). The concepts and knowledge are identical - it's just how motivated the student is to think critically, set healthy goals, and apply the learnings productively. Upon graduation, which student will likely have more grit and tenacity to succeed in the workplace? Savvy employers know that character/fortitude is way more important than pedigree to help the org succeed.
And of course two major drawbacks of attending an elite private school are (1) debt and (2) a more bubble experience (your peers will be more homogeneous, and you may not get exposure to many real-life challenges that help a student thrive in the adult world). Also, some students may feel complacent that admission is the endpoint - they made it. Life is just about marketing yourself and jumping through the hoops to earn some administrator's approval, and then you're on easy street.
But admission is actually just the start - students should be driven to maximize their precious opportunity and realize that it is just a first step along a path that has many greater challenges and learnings ahead. Students may feel entitled ("I'm going to have a degree from Yale - of course the top employers will want me, I'm so awesome!"), and then lose focus (or even get lazy) - while other similarly-talented students snubbed by the Ivies might have a chip on their shoulder, rededicating themselves at a state school to be the best they can be. And let's be honest - undergrad chemistry or econ at Harvard vs. Texas will be taught at about the same quality (and probably not much better than Coursera). The concepts and knowledge are identical - it's just how motivated the student is to think critically, set healthy goals, and apply the learnings productively. Upon graduation, which student will likely have more grit and tenacity to succeed in the workplace? Savvy employers know that character/fortitude is way more important than pedigree to help the org succeed.
Some other sick facts about the perverted system:
- In some cases, families are paying admissions "coaches" $50K and starting at age 12 to get their resume in good enough shape to be competitive. Just imagine what message that is sending to the kid for what is required to get ahead.
- Stanford set the record recently for a 5% undergrad admissions rate. Now the bar has moved so of course the Ivies will try to match. They often do this by advertising to students with good metrics, but low chance of admission (maybe no legacy or not from the right demos). This helps puff up their "exclusivity rating" by making the median scores of their applicants look better, while lowering their admissions rates. And as we know from Apple, exclusivity begets disproportionate interest, even if the underlying product doesn't merit it.
- Many administrators and admissions officers know that the system has gone off the rails and want to fix it, but they fear that they will be the only one and then be at a disadvantage vs. their rivals who perpetuate the misguided process.
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