The network effects of going to a good school are enormous. I don't mean just who you know, but also what they can teach you (mostly outside of class). At MIT

The network effects of going to a good school are enormous. I don't mean just who you know, but also what they can teach you (mostly outside of class). At MIT, I've found that classes have mostly taught me specific course material, while the people around me have taught me how to live/learn. The latter effects have been extremely important in the way I approach my education. See also, Lesson 6 of Gian-Carlo Rota's "Ten Lessons": http://www.math.tamu.edu/~cyan/Rota/mitless.html http://www.math.tamu.edu/~cyan/Rota/mitless.html "You must measure up to a very high level of performance. I can imagine a propective student or parent asking, "Why should I (or my child) take calculus at MIT rather than at Oshkosh College? Isn't the material practically identical, no matter where it is taught, while the cost varies a great deal?" One answer to this question would be following: One learns a lot more when taking calculus from someone who is doing research in mathematical analysis than from someone who has never published a word on the subject. But this is not the answer; some teachers who have never done any research are much better at conveying the ideas of calculus than the most brilliant mathematicians. What matters most is the ambiance in which the course is taught; a gifted student will thrive in the company of other gifted students. An MIT undergraduate will be challenged by the level of proficiency that is expected of everyone at MIT, students and faculty. The expectation of high standards is unconsciously absorbed and adopted by the students, and they carry it with them for life." That said, one must weight these benefits against the cost of attendance.