These colleges are the path to wealth
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Anonymous
DP.. given that there are more low income students than there are seats available to low income students at elite privates, that list is useful, and I would add, also useful for MC families. I went to one of those schools listed above. I came from a lower MC immigrant family, and started making six figures when I turned 30, and this was years ago. |
Anonymous
Right. Let’s quit pretending that all the California publics of various levels and quality have amazing academics or a magic wand. They’ve admitted good, but poor students and given them a reasonable education. The result is an acceptable college degree, which gets them started with a professional salary. I doubt many of those kids are headed to top graduate schools. |
Anonymous
You’re missing the point. There is tremendous synergy in bringing together a mix of smart, ambitious, and wealthy students. Magic is going to happen in that situation much more so than some school with mediocre, traditionally hard-working, poor kids. It’s irrelevant whether or not the school’s academics are the magic, though these schools have plenty of academic accolades. |
Anonymous
You're missing the point. Nothing in the study says the magic accomplishes anything. It's entirely possible that kids enter those schools rich and well connected and leave rich and well connected. The stats on the percentage of student bodies coming from different wealth percentiles at those schools makes me think that junior getting access to their trust is more responsible for those numbers than some random middle class kid getting hired by a venture capital firm |
Anonymous
It tells me that The Street is desperate enough for clicks that they'll trot out yet another list that ignores the work of Krueger and Dale, which showed long ago that there's correlation but not causation between colleges and future incomes. To my knowledge, no one has even tried to challenge this study b/c it's so thorough in its discrediting of the notion that one college is better than another at wealth production. |
Anonymous
 Magic?! More like privilege and entitlement.
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Anonymous
| They are probably great for low income students who get a ton of financial aid and great for wealthy students who are already connected. Not sure about the ones in the middle. |
Anonymous
Right it's the biggest trap for middle class folks who shell out $$$ for prestige, and then major in some usesless stuff |
Anonymous
THE HORRORS!!! For what is life without "a top graduate school"?? |
Anonymous
+1 LOL "wealth" is defined differently for different people. If you come from wealth, earning a salary of $150K isn't wealthy. But, if you come from a lower to middle class background $150K is a lot. People from this background are used to living more frugally, and if they make that much and continue to live frugally, they can set themselves to become wealthy, which again, is relative. |
Anonymous
I mean, duh ! Poor kids go to low cost, easy admission schools, earn a college degree, and discover a way out of poverty. Nothing interesting about this list other than the obvious fact that those with college degrees have more career opportunities than those with no college degree. Duh ! |
Anonymous
| Let's see a study that removes those who would have a $30M net worth regardless of whether they ever left their parents' basement. |
Anonymous
What does this mean ? (Serious as I have no clue as to what you are trying to communicate in this post.) |
Anonymous
DP: That they are not controlling for parental wealth in the study. |
Anonymous
DP, this. The study counts a kid with a trust fund as a positive outcome. |