What's the Value of College Prestige?

If you go online and type in "college prestige," some phrases start popping up:

"College prestige rankings"

"College prestige matter[s]"

"College prestige vs cost"

"College prestige important"

"College prestige doesn't matter"

Chances are you considered a college's prestige when you selected which school to attend.  If you are thinking of transferring to another university or going back to school after many years away, you are probably taking into account different schools' prestige--among other factors--all over again.

I come from the college access world, in which educators advise students and families on what to consider in the college application and selection processes.  Even within this field of educational professionals, there is a wide range of opinion on how much college prestige matters.

While there are merits to different sides of this argument, I find that general arguments on college prestige cannot fully address what you as an individual student need or want.

For example, I went to the University of Illinois in Urbana-Champaign, a.k.a. U of I, for my undergrad.  One of my friends started off at a less prestigious yet more affordable college and transferred to U of I because it had a renowned engineering program.

Ultimately, she felt it was worth it to make the jump to a pricier yet more prestigious university because U of I's engineering school connected her to more competitive internships and jobs than what she would've had at her previous university.

The prestige of the university mattered to her because it translated into greater employment prospects at top-notch companies, better access to higher-paying jobs, and support from a well-connected alumni network.

Let me be clear:  the moral of the story is not that prestige in itself matters.  You want to consider what prestige means for your educational benefits.  If you're thinking of prestige only in terms of college rankings and what is published in a college's glossy brochures or flashy website, that's not enough research to know the value of a college's prestige.

The value of college prestige depends on what you value.  My friend valued having a secure engineering job for a well-known company, a competitive salary, and access to a successful alumni network.  She gained those educational and professional benefits when she transferred to U of I.

However, your values may differ from hers, or you may put them in a different order from her.  Some students may need a small college environment.  Others may opt to attend a college closer to home so they could be closer to their parents or other family members.  Everyone is different.

In fact, I have another friend who majored in finance at U of I.  After freshmen year, she transferred from U of I to another college with a less prestigious finance program because she missed being close to her family.  While many people--including myself at the time--thought that was a poor decision … she did graduate from college and was able to do better because she had the immediate support of her tight-knit family.

Her second college may not have had the alumni network or connections to jobs at top-notch companies like U of I's business college did … but she didn't care.  Those weren't the things she valued most in a college education, and what's important is that she found a school where she could be near what she did value most--her family.      

Whether you're starting college as a freshman, transfer student, or student who has been away for a while, it is important to know what you value most in a college education.  Additionally, it is vital to know how you prioritize those values.  Knowing your values will guide you as you figure out how much prestige and other factors matter when determining the next steps in your college education and beyond.