The American college dream: is the elite route the only way?

The belief that attending an elite college guarantees success has become deeply ingrained in American culture. 

From the moment students enter grade school, it’s implied that hard work and high grades will get them into a top-ranked university, granting them a better future than those who attend lower-ranked schools.

This mindset, however, ignores the financial, emotional and mental costs that come with the relentless pursuit of an elite education. Only a fraction of applicants are admitted to the top colleges in the United States, and this fierce and unrelenting competition can lead to anxiety, stress and burnout.

In the midst of these harsh realities and with our futures still largely unknown, we ponder whether a degree from a prestigious university is worth it.  

The names of top colleges carry significant weight when it comes to networking and applying to jobs, as people tend to associate such schools with intelligence and excellence. 

And the prestige top universities add to one’s resume is noticed by recruiters.

But does the name alone guarantee a better career outcome, or is it just an expensive label?

Brand recognition can open doors, especially when hiring managers are familiar with the rigor associated with your institution. 

However, this advantage may be short-lived. Research from the National Bureau of Economic Research suggests that school selectivity, often measured by the average SAT score of the attending students, doesn’t necessarily correlate with higher lifetime earnings.

While elite institutions may facilitate networking opportunities, actual career success tends to depend on performance, interpersonal skills and one’s ability to network beyond the initial degree.

On top of this, in the face of rising tuition fees, alternatives to an elite education are gaining attention. 

Graduates from state schools, trade schools and even those who forgo higher education altogether are finding ways to succeed without the hefty price tag of a prestigious degree.

And they’re doing just as well.

Take, for example, Richard Branson, a business magnate who founded Virgin Group. He left school at 16 to build a business empire spanning industries like airlines, telecommunications and space travel.

Similarly, David Karp, the founder of Tumblr chose to get involved in tech startups while he was young instead of pursuing higher education.

With countless other examples of successful figures — financially and otherwise — who never went to a prestigious university, it becomes clear that graduating from these institutions isn’t the sole path to success.

What matters most, for those who do earn a college degree, isn’t the institution listed on your diploma, but your performance and work ethic in your field.

Success, as we have mentioned, is shaped by personal attributes that hold far more weight in the long run than the college you attended. 

This isn’t to say top-ranked schools shouldn’t be considered, as elite schools are the right choice for some.   However, if the price tag doesn’t seem worth it, attending an in-state college or university can still allow students to grow and learn, and trade schools — for those who know exactly what they want to do and don’t need to pay thousands of dollars for a B.A. or B.S. to do it — remain options as well.

In the end, the answer is no, going to an elite university for an undergraduate degree doesn’t guarantee success post-graduation. 

Unless you are focused on the education you want to receive throughout your four years rather than the outcome, the constant stress, SAT and ACT prep and thousands of dollars in tuition and other expenses aren’t necessarily worth it. 

But, as we reflect on this while attending a top university, we acknowledge the opportunities we’ve been granted and strive to take advantage of the educational and extracurricular opportunities this highly-regarded yet expensive school provides.