I'm a high school senior who wants to major in CS. I want to know what you guys think on the "best" college vs. the "cheap" college approach (when I say cheap, I just mean cheaper than the alternatives). As a general rule, should kids try and get out with the least amount of debt, or just go get the good education at the school you want and deal with the debt? It's just money after all.
For example: I've been admitted to U of Illinois UC, which is an amazing school for CS, and I can get out with no debt since I'm in state. On the other hand, I'm waiting for decisions from Stanford, Berkeley, and MIT. If I got in to one of those, I would like to go there over U of I (who wouldn't choose CA over IL), but I'd rack up quite a bit of debt.
I've heard conflicting answers from relatives and friends, so I thought I'd ask those of you who are actually in an industry I plan to enter.
Thanks for any advice,
whackedspinach.
Most of the advantage to an elite college accrues to the very top - Harvard, Stanford, MIT. If your choice is between, say, NYU or Hampshire or BU and a state school with in-state tuition, the state school is probably a better value. If your choice is between, say, Stanford or Amherst or MIT and a state school, going to the big name school can result in earnings that pay off the cost of it within 5 years.
Also, many of the top-tier colleges give very generous financial aid to middle-class families, so you may find it's not all that much more expensive than a state school. My actual tuition at Amherst College was less than sticker price at UMass Amherst, though of course I would've gotten a full-ride on merit scholarships at UMass.