Ken Thomas refers us to this NYT article reporting on research spanning the 60s and 1976 to 1989 by Stacy Dale and Alan Krueger. The question in the roughest terms is ‘does an elite college education pay off in income?’.

Of great interest:

It’s important to note, though, that a few major groups did not fit the pattern: black students, Latino students, low-income students and students whose parents did not graduate from college. “For them, attending a more selective school increased earnings significantly,” Mr. Krueger has written. Why? Perhaps they benefit from professional connections they would not otherwise have. Perhaps they acquire habits or skills that middle-class and affluent students have already acquired in high school or at home.

This finding is especially noteworthy because the new study included several historically black colleges, like Howard, Morehouse and Spelman, which are not as selective as Penn, Williams or other elite colleges. Students who choose a historically black college over an elite college may be hurting their future earnings potential.

and this advice to student applicants and colleges

My advice to students: Don’t believe that the only school worth attending is one that would not admit you. That you go to college is more important than where you go. Find a school whose academic strengths match your interests and that devotes resources to instruction in those fields. Recognize that your own motivation, ambition and talents will determine your success more than the college name on your diploma.

My advice to elite colleges: Recognize that the most disadvantaged students benefit most from your instruction. Set financial aid and admission policies accordingly.

Your conclusions as you are looking at 15 April?

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