Is a Penn degree really worth the money?

I might be squeamish about spending $16 for groceries, but I have learned to rationalize spending $160,000 on my Penn education. When I don't have the money in my hand, it just doesn't seem real. But that theoretical $40,000 a year is already starting to catch up with me -- and my parents -- in the form of student loans and large bills.

So when I read articles in Forbes and The Washington Post that cite research claiming a $160,000 education isn't worth it, I get a pit in my stomach. I, like all Penn students, have to believe the fact that Penn is worth the money. Otherwise, why are we putting ourselves in all this debt?

Some researchers claim that highly motivated students are likely to excel at state schools just as much as they would in the Ivy League -- at half the price. Or even less, depending on scholarships. They claim that being a highly motivated student at a less-prestigious school is just as valuable as being one of many such qualified students at an elite university -- and that future salaries of these two types of students are likely to be the same.

Unlike those who claim otherwise, I still believe in the value of a Penn education -- and by the increasing number of Penn applicants, I know that the next generation of Quakers does too. And while I still struggle with the cost of my education, I know it can't be quantified by the simple measure of a future salary.

But to what extent is the willingness to spend $160,000 the result of the cultural expectations surrounding the college selection process? Is the desire to go to a brand-name school simply a desire to be "elite?"

Students with diplomas from big-name universities are able to confirm that they received a high-class education. But the degree also implies that students spent their four years surrounded by similarly intellectual and motivated students. The result is an enriching out-of-classroom experience.

Coming from California, a state with a very strong public higher-education system, I carefully weighed the benefits of a private education over a prestigious public one. I knew that attending a University of California school would expose me to a different kind of diversity than Penn would and would cost my family less money. Ultimately, the intimacy of Penn's liberal arts education helped me make my decision. State schools can be overwhelming or impersonal if students are not involved in honors programs or specialized classes.

"I had a negative outlook on UCLA last year because you are definitely a number," University of California, Los Angeles sophomore Becca Dietz said. "They are just trying to push us out of here as fast as they can." But Dietz added that students also receive real-world experience by making their own education without the guiding hand provided at schools like Penn.

It's almost impossible to attend a university with fewer than 30,000 students without paying around $40,000 a year. Penn, with almost 10,000 undergraduates, offers many more opportunities than prestigious public universities such as Berkeley or the University of Virginia. A college education is what you make of it -- but it is easier to take advantage of resources in a school where students are less anonymous. In fields of study that require small classrooms, schools like Penn offer an obvious benefit.

And whether or not a Penn degree is actually better than any other, in the business world it can help to hold a degree that implies a certain level of academic rigor. The amount of on-campus recruiting that goes on at Penn is proof of the importance of your school's reputation in attracting future employers.

Although recent data show that the job market is improving for undergraduates, some companies show preference to students who come from big-name universities.

And even for those who don't enter the business world straight out of college, a big-name undergraduate degree might be a stepping stone onto the way to a better post-graduate degree. Graduate degrees are increasingly more important than undergraduate degrees in the job market; many students assume it is necessary to continue with post-graduate studies in order to pursue their preferred career paths.

I admit that when I hear about students who graduate from college with little or no debt, I am jealous. But Penn offers many intangible advantages that can tip the cost-benefit analysis of a college education in favor of a private education. And as a Penn insider, I can attest to the advantages that Penn alone offers, on an academic and social level.

I will always wonder if I made the right choice -- I'll just have to cross my fingers and hope that those thousands of dollars add up in the end.

Anna Hartley is a sophomore comparative literature and French major from Palo Alto, Calif. Penn's Annatomy appears on Tuesdays.

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