Today my group and two others presented the project about college. For this project, we had to compare Ivy League universities with normal universities to see if the price was worth it. We concluded that you could make more money if you went to a normal university and invested the tuition difference between that university and an Ivy League. My group compared four universities: the Massachusetts Institute of Technology (Ivy League) versus the University of Massachusetts Lowell (state university). The price of MIT for all four years would be $228,040 while the price of the University of Massachusetts Lowell would be $88,068. The difference between these is $139,972 and if you invested this in passive/index funds, updated your portfolio every year, and kept your bond percentage the same as your age, you could make millions of dollars in the long run. The mistake my group made was only deducting the state income tax and not the federal tax, so our net income was quite inaccurate; therefore, our data for what you would be left with if you invested was wrong. Other than that, I think we were accurate.
When I talked to my father, he said that if my sisters or I were ever accepted to an Ivy League school he would not think twice about sending us. He said that because it would never be a problem for my parents to pay the tuition fees and he thinks the connections that you get from attending a top-tier university are worth it. He does believe, however, that you can be successful with a more mediocre education because it depends on how motivated and driven you are. We discussed people who even dropped out of Ivy Leagues like Bill Gates and Mark Zuckerberg who managed to become extremely successful. My dad thinks they are just outliers though, those are very rare cases. I think the reason why he would want us to go to Ivy Leagues might also be because he would want to live his dream through us. When he was younger, he really wanted to go to MIT but since he lived in communist Poland, his choices were very limited, so he ended up going to an obscure German university. However, he still managed to become quite successful, so I still don't think going to an Ivy League is worth it.
This past weekend I barely spent any money even though it was a long weekend. I literally only spent $10 and that was because I had no money on my ezlink card and needed to top it up to take the bus and MRT. The reason I didn't spend very much money was because on Thursday I stayed at home to do my homework, on Friday I went to my friend's birthday party and I didn't have to pay for anything, on Saturday my friend invited me to the Maroon 5 concert and she paid for everything, and on Sunday I stayed home and did homework.
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