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Also the choice of college is important. While a degree from Harvard or Stanford might be worth the tuition, many second-tier private colleges cost $25,000 per year and have academic reputations inferior to a $10,000 per year state university. A student who saved and invested that $15,000 per year difference would have a $500,000 nest egg by age 45.intercst Excellent point. To further illustrate this point, I am a 25yr old in accounting for an entertainment company, and my boss is 33 yrs old. I went to a public California university, and managed to graduate debt-free. My boss went to a private university in St. Louis for his undergraduate studies, and also went to a private university for an MBA he did not complete. Even if I never get a raise (I am currently at $42k a year), I will retire before my boss b/c I don't have $100,000 in student loans hanging over my head like my boss does (well, that and he leases his automobiles). I'm willing to bet that the university I attended has the better reputation also.I suppose this either makes an argument for public universities, or it emphasizes the importance of making sure mommy and daddy pay for your private school education :)
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