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Where you got your degree from doesn't matter NEAR as much as people generally think >>
The only thing that makes something matter is people thinking that it does...
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How is the education from MIT better than that from a state college? >>
Check out the some of the course descriptions in the classes at MIT vs. the course description for the "same" course at a state school.
Fundamentals of Software Engineering at Oregon State
and
Foundations of Software Engineering at MIT but the more comparable course to the one at OSU is the next course in the catalog, Software Architecting. At MIT, more stuff is covered and in greater depth. It's not always a good thing, but chances are you'll have more work and therefore learn more.
Also, take a look at the different requirements for getting a degree between MIT and OSU. At OSU, you hardly even get into computing.
Course Reqs for CS Degree at OSU
Introduction to 'C' Programming
Introduction to Computer Science I and II (Java)
Data Structures
Operating Systems I and II
Analysis of Algorithms
Fundamentals of Software Engineering
Introduction to Computer Networks
Programming Language Fundamentals
Social and Ethical Issues in Computer Science
Senior Computer Science Electives
Elements of Discrete Mathematics I and II
English Composition
Public Speaking
Senior Capstone Project or Internship
There's no databases, no theory of computation, no computer architecture, and no logic design. Those are kind of basic things that people need to know to be able to be more than corporate robots nowadays, and OSU doesn't provide students with that. At MIT, there are three concentrations of CS depending on whether you want to go into AI, hardware related stuff, or theoretical computer science. I guarantee that you will have more work at MIT than almost any state school, and therefore learn more. There are always exceptions to the rules, but people think highly of MIT students because they generally just know more.
As for paying for what you get, many expensive schools don't have great reputations ($32,053 estimated for one year at Scripps all-women college, #37 on usnews's top 50 liberal arts colleges), while some less expensive schools have incredibly good reputations ($21,202 for entering freshman at Georgia Tech, a state school, #35 on usnews's top 50 overall).
If you think you're "stuck" at a state school, there's a lot of really good ones out there. There's also some private schools that aren't as expensive as they first seem... Rice is really cheap (comparatively) and Case Western Reserve has a scholarship program where if you meet certain academic criteria (SAT, GPA) you get a certain scholarship up to full tuition, end of story. The requirement for the full tuition might be 3.9 w/1550 SAT, but if you've got it you'll pay about $26,000 total for all four years (5k for room and board each year, plus an increase in tuition of $1000/year that isn't covered by scholarship). It's something to look into.