The University of Impossible-to-Get-Into (Update)
Freakonomics Radio
The Impact of Attending a Prestigious College on Future Earnings
The argument posits that attending a prestigious college may not increase future earnings when controlling for the inherent abilities of students. Research conducted by Stacy Burgdale and Alan Kruger examined the correlation between prestigious college attendance and later life earnings, utilizing comprehensive data on students' college applications and admissions. The study involved over 14,000 students from 30 colleges, leading to the finding that while graduates from more selective institutions tend to have higher wages, the elite school itself does not appear to be the cause of increased earnings. After accounting for various factors, the results indicated no significant increase in earnings attributable to attending a more selective college over less selective ones. However, the analysis also revealed that certain subgroups within the population may still experience benefits from prestigious college attendance.
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