<prompt> Human: Hello rpersonalfinance,I wanted to ask the community here for some advice regarding choosing a college, with regards to expense. I am a senior in high school have been fortunate enough to be admitted to a spectrum of schools, but I am deeply troubled by the financial consequences of my decision. For some context, my family is in a good financial situation for the most part. This year, my parents earned a gross combined income in excess of 180k, and have been saving assiduously for retirement. This combination of factors makes out FAFSA Expected Family Contribution around 45k. They have 3 other children, all younger than me, all with intentions to go to college as well. My college choice essentially boils down to elite private school or not bad state school. I have been admitted to Yale, where I will have to pay 56k next year. They claim to meet 100 of financial need, and they are correct in that my family could afford this price for one year, but certainly not beyond that. My parents and I are hopeful that this number will drop significantly next year when assets are depleted and my next sibling is also in college. Perhaps someone has experience with a similar situation? The other path is attending a state school. There, tuition is basically going to be fixed at 23k a year, but even then my parents think they will need to take out loans to finance multiple children in college. My decision is further complicated by career choice. Part of me wants to be an engineer, but Im not totally sure that that path is what I want. Economics also appeals to me, and Im sure other disciplines will tempt me as well. If it were, it would be an easy decision; my state university is known for its engineering program. However, the state school is pretty mediocre for other degrees. I was always told that a part of college is finding yourself, but Im not sure my family can afford that option. I would appreciate any advice or guidance on this issue.TL;DR: So-So State, or debt and Yale?  <response>: With an economics degree a Yale diploma is going to open a ton of opportunities. The most prestigious firms actively look for prospects at the ivys, whereas youll be lucky to get an interview by networking your ass off and emailing hundreds of people at a state school. Getting a job at a prestigious firm fresh out of college is essential in financeeconomics and your odds are much higher at an ivy. Personally I believe that benefit alone is worth an extra 25 thousand a year in loans. 