Choosing where to go to college is the most pressing issue that almost every teen in America faces today. The increasing pressure and importance of that decision has coincided with the skyrocketing price of attending college. With college becoming such an astronomically expensive choice, and the utmost important investment for a kid, parents and teens all across our nation are faced with the challenge of finding the perfect fit for their kid. One that fits the criteria of an academically competitive and fiscally reasonable school. However many stereotypes have existed within our country surrounding colleges that have many questioning their choice of school. Parents and teens alike are asking the same questions nowadays, that at first glance look like very hard questions to answer. Is it worth going to my dream school, even if the price tag completely unaffordable? Is going to a more expensive school worth the money even if I am going to be swamped with student debt? Finally, will the more “prestigious” private school eventually be a better investment than the more affordable public school? With the college hysteria that has broken out in America, so has the research on this topic increased. This increase in research on the choice of college, particularly public college vs private college, have yielded very overwhelming and in fact one sided results. When looking at job and life satisfaction and ultimately return on investment, going to public college over private college is clearly the more economical and sensible investment in both the short and long run. Any way you look at the debate, there is almost no statistical data to support the claim that the reputation or prestige of private colleges is worth the almost insurmountable cost.

The most explicit argument that backs public colleges over private colleges is the data that shows overall return on investment. Alexandra Svokos of the Huffington Post wrote an article titled  “Colleges Where Graduates Get The Most Bang For Their Buck”. In the article Svokos cited a study done by the company “Payscale” and concluded that the top 15 colleges with the highest return on investment in the entire nation were all public colleges (Svokos). Another study on return on investment done by Lexington Law revealed that out of 40 colleges that were analyzed, the top 20 colleges that had the highest return on investment were all public colleges, and the bottom 20 colleges were all private (Lexington Law). This discrepancy within the data is glaring and is able to truly capture how significantly better the public college investment is as opposed to private college. Even the most reputable private universities such as Harvard, MIT and Stanford were edged out by the less glamorous and less pricey options such as Pennsylvania State University and Purdue University. Although as a society we tend to put so much value on reputation and the price tags of schools like those in the Ivy League such as Harvard, Yale and Princeton, statistically there is no evidence that demonstrates any edge when looking at return on investment. In fact it shows that going to a public school like Georgia Tech or the University of Maryland is a better option in both the long and short run.

Another interesting aspect of the gap between public and private colleges in terms of return on investment is what that gap is going to look like in the future. It would be smart to look at the trend of both private and public colleges return on investment, because whether the gap is widening or narrowing could have serious implications on the decisions of high school students and their parents right now. College is a lifetime investment, so it is of serious value to look into what will happen to this gap between the two sides in the future. Tom Anderson of CNBC’s article “Public Colleges Will Be an Even Better Deal in 2025” shows us that this gap is widening as we speak. Anderson also cites the Payscale study in his argument, and talks about how in 2006 this gap between public and private colleges was non existent. As the cost of college continued to rise, and the gap between tuition of public and private colleges increased, the return on investment swung in favor of public colleges and has been rapidly increasing ever since. This figure is extremely important for those faced with this decision (Anderson). With this gap widening quickly, the case for public college only becomes more enticing. If more kids are going to be attending public colleges, then they will become more competitive and have a stronger and larger alumni network. Often times, although it can seem daunting, it is important to stress that college choice is one of the biggest life decisions that you will ever make. Not only is it a current investment, it is an investment that will shape your career path and ultimately your life path. Both public and private college return on investment statistics are expected to grow over the next 10 years. By 2025, the already larger return on investment for public colleges will have grown by 17 percent, while the return on investment for a private college will have grown by 4 percent, according to the PayScale analysis study (Anderson). This discrepancy is a large one and will make an even bigger difference down the road. With the average return on investment expected to rise four times by a public school as a private school in the next ten years, the decision becomes even easier. If the gap of return on investment is only increasing, then clearly public college makes more sense. When making a decision this important, it is important to look at the future trends of public and private college return on investment. Due to the already widened gap increasing over time, both in the short and the long run, the statistics yet again show that public college projects to be the more sensible and economical choice.

Along with the increasing gap in return on investment, researched data has also shown that there is no difference in wages between public and private college graduates. A study done in the 1990’s by reputable economists Alan Krueger and Stacy Berg Dale demonstrated that the earnings of highly selective private schools and less selective public schools had no gap in earnings over time. A follow up study was done almost 15 years after and the results were almost identical (Kingkade). This study by the National Bureau of Economic Research further shows that there is no advantage held by attending a private college when it comes to earnings. Due to the increasing gap between the price of private colleges and public colleges, the return on investment is increasing for public colleges (Dale, Kruger). In summary, as the price of attending private colleges rapidly rises compared to public colleges, the earnings of private college graduates has stayed equal. Despite many people believing that you will make more money if you go to a more “reputable” private school, the evidence does not back that claim.

Michael Bernick of Time, also cites the studies done by Krueger and Berg Dale in his article “It Doesn’t Matter Where You Go to College”. In Bernick’s article he talks about the importance of college grades rather than the degree itself. Yet Bernick does cast his doubts on the study done by Krueger and Dale, stating that “Earnings are only part of the employment picture. Other measures, like job satisfaction and social value, are more difficult to quantify” (Bernick). However a recent study done by Anna Brown of the reputable PewResearch.org, reveals there is no difference between public and private graduates in job satisfaction and family life. In fact, public graduates feel better about their return on investment, while 17% more private college graduates had to borrow money to pay for their tuition according to the study (Brown). Also it is important to note that when public graduates borrowed money, they owed about $10,000 dollars less than private graduates. Once again, there is no data to suggest that paying the expensive tuition to go to a “prestigious” private school gives you anymore benefits. In reality, the affordable public school route proves itself to be much more sensible, especially when looking at borrowing student loans, and overall job satisfaction. No person who recently graduated college wants to be in a mound of debt, and going to public college as opposed to a private college alleviates that burden.

Although there are many statistics as a whole on why public college is better than private college, it is very helpful to show the individual success stories of those at public schools such as the one described in the YouTube video “Choosing a College: Why I Went To Cal Poly Pomona (Public vs Private Schools)” by Edward Chua . This YouTube video successful Cal Poly Pomona graduate Edward Chua gave us insight into the tough decision that our high schoolers are faced with in this day and age. In high school, Edward Chua got into top tier private schools such as Stanford and UC Irvine. However he made the choice to go to public college was able to save over $100,000 dollars by choosing Cal Poly Pomona and was able to graduate with only $25,000 of student loan debt. Although that can seem like a large debt, it does not come anywhere near the total debt that an average private college student would take on. Chua is able to go through the specifics of why public college was the best choice for him. Obviously he touches upon the most glaring argument which is lower price tag he paid to to attend college for and the lower student debt that he graduated with. However one thing that Chua is able to speak to very well is the actual education that he received at Cal Poly Pomona. This public college offered him many hands on experiences, because they have a wide variety of majors and things that he could experiment with. Chua says that during his time in college, he was able to directly relate his schoolwork to what people in the industry are actually doing. In other words, Chua directly credits much of his success in the real world to the experience he had gained at a public college. Now a senior associate at a top accounting firm PricewaterhouseCoopers, Chua works in the cyber security and his success in such a specific field was due in part to how dynamic his education was. At Cal Poly Pomona Chua was able to take classes in accounting, and also was able to get hands on experience hacking into databases and creating them. Now working in the cyber security field of an accounting firm, Chua has a grasp on how the accounting aspect of his company works, and is able to do his job more than proficiently, because of his hands on experience with cyber security in college. Yet another advantage that public universities have over private universities is the wide variety of classes that you are able to take. In fact, most freshmen come into college with their major undeclared, making the flexibility of majors in public colleges very appealing. By having a wide array of choices of majors and classes, students are able to perfectly tailor their class schedules to their exact desired career path. Also they allow students to explore their many interests.  Edward Chua is a great example of this, because of the diversity of Cal Poly Pomona he was able to specifically take classes in cyber security and accounting. Albeit it is anecdotal evidence, it is worth noting that Chua talks about his friends that attended private colleges in fact had much worse experiences with their cyber security programs. They had less hands on experience which he cites as one of the most important aspects of his education. Finally, Chua is able to expound upon a recurring theme that employers stress to their prospective employees, the degree does not make the student. Chua was able to build his resume by getting involved on his campus. His high grades and self development were put in motion by his public education, and allowed him to flourish into a successful executive. Chua’s story is one that demonstrates the actual path to success that a public college offers. It is easily attainable and very affordable, and Edward Chua’s path demonstrates the edge that public college has over private college.

Edward Chua is a perfect example of the notion that the degree does not make the person themself, rather the drive and aspirations of those going to elite schools. In the book “Where You Go is Not Who You’ll Be”, Frank Bruni explains this concept. Many can argue that “elite” schools are so elite because of the teaching and the reputation. Data has shown that the so called “reputation” does not hold any weight in the real world. However these schools do have very well educated and driven student bodies, as a result of their more selective admissions processes. Yet Bruni argues “Did the elite college make the Yale lawyer and the wobust breadwinner, or do the characteristics and priorities of a Yale lawyer and a robust breadwinner dovetail with the characteristics and priorities of a person who aims for the elite college and studiously and diligently succeeds in putting together the sort of high school resume that wins over the admissions committee there?” (137). This a very good point in which Bruni is able to convey to the reader. If you are qualified, disciplined and diligent student who is on par with many of the students at an “elite” college, and you choose to save money at a public college you will be just as successful as the student who paid the money for a more prestigious private college. Simply put the degree itself does not make the student, person or employee, rather their work ethic, natural intelligence and inherent qualities.

One myth that seems to always be repeated when talking about finding a job after college is that an employer first looks at where the prospective employee went to college when looking at a resume. However an article done by Susan Adams of Forbes debunks this myth. In her article “Do Employers Really Care About Your College Grades?”, Adams goes right to the source to find information about what employers look for when making a hire. After talking recruiting directors of companies who make thousands of hires a year, the number one factor when looking a student is grades. Often times we as a society like to get caught up in the brand name schools just because of the “reputation” of selectivity and elitism that they might carry. However when an employer sits down with a resume, they hardly care where you have gone to college, rather what you have done when you have gotten there. Are you capable of successfully completing your courses with high marks? What grades you got in college directly translates to, how proficiently you can do your job. Also employers look for what activities you were involved in during college and the complete person that you are, Dan Black the director of recruiting at Ernst and Young says “I’m always looking for people who can juggle multiple responsibilities”. Often times recruiters have a minimum GPA requirement in order to be even considered for a job. Black also was quoted as saying grades were “the only indications we have of a student’s technical ability or competence to do the job.” While many in our society look towards the degree and reputation as the most important factor for a prospective employee to have, Black tells us that it is not the case. When recruiters are making a hire, they want the most reliable and dependable candidate. One that consistently produced strong grades and was involved in meaningful organizations during their time on campus. Both of those criteria are easily attainable if not more accessible at a public university. Contrary to popular belief, the most important factor that employers look for is GPA and while many will pay the increased tuition to receive a “reputable” degree, this holds very little weight when applying for jobs after college (Adams).

We as a society put such a value on “brand names” and often times buy into the myth that if we are paying more for something, it must be worth the added cost. However as we examine public vs private colleges, we must ask the question, why are we paying more money for a private college? Most would argue that the reputation of the degree at a specific brand name school will make you more money, get you a job easier and ultimately increase your overall satisfaction in the grand scheme of life. Yet there is nothing to back those claims up, and in fact as we really delve into the public vs private college debate, we are able to see that public college is the more fiscally sensible and overall superior investment when looking at both the short and long term. Public college students have an overwhelmingly better return on investment, are just as successful in their jobs and do not have the stress of a gigantic student loan burden. College is an investment of a lifetime, and the data and facts are clear, public college is a far more economical and overall better investment than public college in almost every aspect.
