State school for free vs. paying for better school.

[josephina]

I am unsure about what to do. I applied to my local state college to the IO program and got offered a position as a research assistant with my education paid for. The program is nothing special from what students have said. The program is not too difficult either.  My other options are NYU, Columbia's Teacher's College and Baruch. They give out no aid or scholarships so I would need to take out a loan of about 60k-70k for the MA.

 

Is this worth it to take out such a loan? Will having an education from a "brand name" school like NYU benefit me in getting a job and salarywise a lot more compared to an average program from a pretty much "no-name" state college?

Edited October 11, 2014 by josephina

[tspier2]

What is your end goal -- going into the field or continuing for your doctorate? Although Psychology isn't my field, I'd be weary of people who suggest that state colleges won't afford you the same kind of opportunities. I went from a community college to a state college to a tier one university (RU/VH). It's all about what you do while you're there to make yourself more marketable and better prepared.

[josephina]

What is your end goal -- going into the field or continuing for your doctorate? Although Psychology isn't my field, I'd be weary of people who suggest that state colleges won't afford you the same kind of opportunities. I went from a community college to a state college to a tier one university (RU/VH). It's all about what you do while you're there to make yourself more marketable and better prepared.

 

I plan to go straight into the field. I don't know that I will ever pursue a PhD.

[tspier2]

I plan to go straight into the field. I don't know that I will ever pursue a PhD.

 

Maybe someone in the field will have a more informed opinion than me, but I can't see how it would hurt to go to the state school instead: your education will be paid for and you will gain valuable research experience. Remember that you get out of something only what you're willing to put in. The school might not be known nationally, but that doesn't mean its name is worthless. Check with the program to see what their placement rates were like, i.e. what the graduates are now doing. That should give you a good idea about what the end result will be.

[biisis]

Free free free free free. Go for free.

[spunky]

I would need to take out a loan of about 60k-70k for the MA.

 

 

honestly, this sounds like financial suicide. i don't think the job market is that great for you to be able to pay all that unless you get help from spouse/parent or are prepared to live a VERY, VERY frugal lifestyle for a VERY, VERY longtime. 

[BeingThere]

Josephina, if I were in your shoes, I would want to find out the following: Where do past grads from the state program work now?  Does the state school's program require an internship?  Or do they help their students get internships?  Is there funding through the program to go to SIOP?

 

I don't see why you couldn't do perfectly fine at a state school's program, if past graduates have found employment. 

 

I'm assuming you have to stay in the NYC area?

[lewin]

Frankly, my impression has always been that good research-based programs pay for their students. So when I see a price tag of $70,000 I think that something else must be going on there.

[BeingThere]

Lewin,

Many I/O master's programs just don't have TA or RA positions for their students, and thus finding funding for an MA in I/O is not as easy as for PhD programs.  In this particular area of psychology, lack of funding really doesn't say much about the quality of the program either way.

[lewin]

^^Gotcha, I stand corrected!   Thinking about it more.... you can actually DO something with a master's in IO (as opposed to, e.g., social) so that makes more sense.

[juilletmercredi]

Follow the money, IMO.

[C A]

There was a professor (I wish i still had the link) that was answering a similar question about whether or not a better school would provide better job opportunities. 
In I/O it's more about what you know and what you do, unlike MBA and Law school where the school prestige matters, Noone really knows I/O schools all that well anyways. Take the 2014 rankings of I/O grad schools from TIP. All those schools are good schools, it doesn't work that going to the 5th ranked school will necessarily land you a better job than the 15th or 25th. 

Assuming the state school is decent enough (which you can confirm by looking at the professors teaching there and their background, whether the school has alumni that are working in industry, etc.), You're better off going there and making the most out of it to get the experience and land yourself a good job in the industry.

Edited October 24, 2014 by clarkboyo