True, but something tells me that most of MIT's students are
probably undergrads. Same for Harvard, Yale, Princeton, etc. One of my internet friends goes to Lehigh for the bargain basement price of only
$38,000 per year as an undergrad.
Which states have bad schools? Even if you're paying the 15k out of state tuition, that's still a >50% discount. Not bad.
If you pick MIT and they let you in, you won't get to look at research
until you're in your fifth year and that's
if you are accepted for graduate studies.
Seems like a cultural thing. Many Americans don't seem to think it's a problem to get more than $100,000 in debt before the age of 25, and that's what allows private universities to exist and pump out as many grads as they do. Grads from private institutions are very qualified, I'm not doubting that, but it floods the market.
It just seems so foreign to me since I live in a place where guys with 2 years of education with a total cost of less than $10,000 go on to make $50,000 starting salaries. My community college's job placement survey can be seen
here. I assure you those numbers are accurate. My brother is a mechanical engineering grad, cousin is a petroleum engineering grad, and both of their starting salaries were roughly what it says.
Luckily MIT has the balls to keep track of their grads and post some statistics.
MIT 2008 job survey.
It's long and very detailed so correct me if I'm reading it wrong.
-Civil engineers with a 4-year degree earn $58,000
-Mechanical engineers with a 4-year degree earn $63,000
-Electrical engineers with a 4-year degree earn $79,000 (excellent)
-Chemical engineers with a 4-year degree earn $58,000
Overall it doesn't look like MIT grads are doing better than anyone else. Why are Americans willing to pay over 30k per year to attend a school like MIT? This is why you have so many college grads. People want education so bad that they'll pay any price to get it. The market is now flooded.