These colleges are the path to wealth
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Anonymous
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Like we need another ranking but here you go DCUM… what does this tell you?
https://www.thestreet.com/investing/dropping-out-of-harvard-may-be-the-best-path-to-unimagined-wealth. |
Anonymous
| The usual suspects. |
Anonymous
| This is such nonsense. Do they even attempt to control for family wealth of the student body. A whole lot of these would be that wealthy if they went to NO college. |
Anonymous
| Ok, but of course let's not forget that these places can be filled with students who are wealthy and connected already before graduating. Would be interesting to see the outcome of those who were not. |
Anonymous
That the very wealthy make a point to send their kids to colleges they can name drop at the clubhouse? To be fair, I'm sure the colleges played some part in high wealth generation in at least some cases. But this kind of list won't tell us how often or what part. |
Anonymous
| Show me a list of colleges that takes FARMs and Pell grant recipients and has them earning 6 figures within 5 years of graduating. That’s moving the needle on wealth creation. Taking a bunch of privileged kids and showing how some of them turn out to be really rich is nothing. Wealth is a feedback loop. Once you have a little of it it’s pretty easy to generate more. But it’s very hard to get a little rich if you’re very poor. |
Anonymous
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Two of my kids schools are in there, so nice but probably not a good refernce for normal middle class folks.
Use this for salary information by school and field https://collegescorecard.ed.gov/ |
Anonymous
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I mean, duh?? Wealthy, high achieving people produce wealthy, high achieving children. SHOCKER!! That has nothing to do with the college.
What's more interesting is the colleges that can take low income students and propel them into higher brackets. Here's that list. Top performers on social mobility, per US News: - Keiser University - UC-Riverside - CSU-Long Beach - Florida International University - UC-Merced - University of LaVerne - CSU Fullerton - Oakland City University - Rutgers University Newark - UC Irvine - UIC Chicao - CUNY City College - CSU San Bernadino - Russell Sage College - San Francisco State - UC Santa Barbara - Chatham University - UC Santa Cruz - UNC Greensboro Not a single top 50 college on the list until all the way down to number 46, which is UCLA. University of Florida is #75. UC Berkeley #105. Elite private schools? No where to be found until you scroll reaaaally far down. NYU is #140. Princeton is #186. |
Anonymous
So, the lesson is: low income students should not go to the elite private schools, if they want to become wealthy. |
Anonymous
| Schools that take a bunch of poor kids and get them jobs by issuing them a degree is not particularly exemplary of great academics. It’s the power of a college degree. |
Anonymous
| Great colleges have the proof in their admits and their academics. The purpose of Harvard is not to turn poor kids into rich kids. Rather, it’s to train the brightest and most ambitious to be the leaders of tomorrow. Turns out, that formula pays big dividends for the kids and the school. |
Anonymous
Right. I basically says, kids who attend these schools will not end up less wealthy than where they started. I mean I guess it is something that the shcool did no harm, but that is a pretty low bar. |
Anonymous
Yep. It's been discussed dozens of times on here. Those schools don't make someone rich. The rich kids go to those schools. They have an incredible safety net even if they drop out, which Gates and Zuckerberg both did. See who their parents were, for example. |
Anonymous
| Miami of Ohio was a big surprise. |
Anonymous
Even this list is a bit misleading because what is likely happening at most of these schools is that low income students with great academics in HS are attending these schools in-state on scholarship (these systems all have good money available to in-state students with certain GPAs) allowing students to graduate with no or minimal debt and a degree from a school that is reasonably well regarded regionally, which enables them to get jobs and start building some wealth. Which is great! This is literally why public colleges should exist. But if you are a low-income student with mediocre grades, or even a MC student with mediocre grades, going to UC Santa Cruz and borrowing a bunch of money to attend out of state with no scholarship offer is not going to propel you to financial success -- it's as likely to ruin to you. I think the lesson of this list is that we need more reasonable quality public schools and that we should be investing more money in guaranteeing that students who maintain certain GPAs in HS and college can attend college for free or close to it. That would actually be a really solid policy goal for politicians who care about income inequality AND skyrocketing college costs. |