Why a Higher Tuition May Not Equal a Better Education

Whether you're the parent of a child who is shopping for colleges or an adult returning to school, it's important to understand what you'll be paying for. There's a notion that the more expensive a college, the better the education. Unfortunately, many people find out that this isn't always the case only after they've spent tens-of-thousands of dollars for a semester. Here's why a higher tuition may not equal a better education:

1. Debt vs. Degree 

In 2010, close to two-thirds of college undergrads borrowed money for their education. Student-loan debt has jumped ahead of credit card debt. If you or your child has to take out loans to pay for an Ivy League education, think twice about just how important Harvard and Yale really are to your family. First loan payments are due six months after the last class is completed. Without a high-paying job, paying back the loans that got you through Stanford can be crippling.

2. Teaching Assistants Aren't Worth the Tuition 

Consider the fact that professors at Ivy League schools and research universities are more interested in getting published than teaching class. While a professor may hold lectures for hundreds of students at a time and then foist the class off on a TA or an undergrad. Don't assume that classes at these universities are taught by star professors; you'll be sadly disappointed.

 3. You're Paying for Offices   

 Colleges across the nation have doubled the number of administrators that they once had. Instead of looking at professor-to-student ratios, look for administrator-to-student numbers. Tuition at expensive universities tends to go to running the offices of student nutrition directors, communications coordinators and other superfluous departments. What does that mean to you? It means that you aren't paying big money for an education but for unnecessary offices filled with unnecessary staff.

4. Success Is Not Guaranteed

There's no doubt that some employers will hire a Harvard grad before they employ an alumnus of the state's public college. That said, a class of 1,000 students will only feature a handful of recognizable names 20 years from now. Having the name of an Ivy League school adorning your degree does not guarantee success; hard work and perseverance does. An employer is far more likely to hire you for your skill set and knowledge than for the name of the school you attended.

5. Honors Programs are Available 

Many public colleges and universities have honors programs. These programs are more intimate, and often more beneficial, than the general programs available at elite schools. Students in honor school are given first chance of scheduling and are able to take classes specially designed for them. Before you enroll in an Ivy League school, look to see if there are honors programs that are more cost-effective.

Higher tuition don't always mean better education. Before you decide to spend hundreds-of-thousands at Harvard, Yale or Brown, ask yourself why. If you think that a fancy name on your degree is going to guarantee a successful career and a high salary, think again.