As a graduate from and former professor at small private liberal arts colleges, #3 is spot-on. Don't even consider it. The rest of the advice is excellent, as

As a graduate from and former professor at small private liberal arts colleges, #3 is spot-on. Don't even consider it. The rest of the advice is excellent, as well. Unless the world is very, very different ~15 years from now (and God, I hope it is), this is what I'll be telling my kid.