From the NYT.
“Education is a long-run investment,” said Professor Eide, chairman of the economics department at Brigham Young, “It may be more painful to finance right now. People may be more hesitant to go into debt because of the recession. In my opinion, they should be looking over the long run of their child’s life.”
He added, “I don’t think the costs of college are going up faster than the returns on graduating from an elite private college.”
From the Atlantic:
Still, there's something to be said for the broader academic and social environment of the competitive admission schools. Even many celebrity dropouts, the same ones Peter Thiel cited in his criticisms of higher education, were able to leave precisely because of the accelerated advantages of privileged education. Bill Gates and Paul Allen could begin programming as teenagers thanks to donations to their private high school by a computer company and a parents group. A timesharing teletype was not a feature of most secondary schools at the time.Steve Jobs may have left the academic program at Reed College, but he was able to take advantage of its unique calligraphy program -- the kind of course derided by many critics of impractical arts programs, but later essential to the design of the Mac. Jobs' adoptive father and mother had expressly promised to provide a college education for the boy, and were willing to pay for an expensive, highly regarded school. Harvard's high density of students with both computer skills and family money for early expenses (the Winklevoss twins, Eduardo Saverin, and others) was crucial to Mark Zuckerberg in launching Facebook. Ivy lacrosse teams are renowned as investment-banking feeders.
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