Is college worth it?

The professors here all work inside universities, and most of them say college can be worth it, with conditions.

Jeff Bussgang says the return is collapsing for many. Tom Eisenmann surveyed 470 founders and found no correlation between an elite degree and startup success. Vanessa Bohns says college gave her a path she couldn't have imagined from the farm where she grew up.

Their answers cover what makes college worth the money and when it isn't.

Who you should listen to

Six professors from Harvard, NYU, and Cornell, including a venture investor and the author of Why Startups Fail. Listen for the condition that fits your situation.

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  Tom Eisenmann · Professor at Harvard Business School and co-chair of HBS Foundry

  Listen for: What 470 founders showed about elite degrees.

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  Jeff Bussgang · General Partner at Flybridge Capital and professor at Harvard Business School

  Listen for: When the debt stops making sense.

• 

  Shai Bernstein · Professor at Harvard Business School focused on entrepreneurial finance and innovation

  Listen for: Weighing college against cheaper ways to get the same access.

• 

  Tessa West · Professor of Psychology at NYU who studies how people communicate at work

  Listen for: Why your major matters more than the degree.

• 

  Vanessa Bohns · Social psychologist and Chair of Organizational Behavior at Cornell ILR

  Listen for: The professor's door most students never knock on.

• 

  Ellen Langer · Social psychologist at Harvard who has researched mindfulness for over 45 years

  Listen for: How the way you engage decides what you get.

Do professors think college is worth it?

Tom Eisenmann

Professor at Harvard Business School and co-chair of HBS Foundry

Author of Why Startups Fail

Why themNames the failure patterns that threaten startups.

Tom’s advice: In his survey of 470 founders, an elite degree didn't predict startup success.

“I surveyed 470 founders for Why Startups Fail and found no correlation between an elite degree and startup success, and none for an MBA either. College can buy you access and credibility, but it can also fund a bad idea longer; the signal on a resume is weaker than most people think.”

Go deeper with Tom

Jeff Bussgang

General Partner at Flybridge Capital and professor at Harvard Business School

Teaches zero-to-one entrepreneurship

Why themGives feedback from both the classroom and the investor side.

Jeff’s advice: Worth it for him, but without network, judgment, or a specific door, the debt is hard to justify.

“College paid off for me because it plugged me into the people and ideas that shaped my career, but the ROI is collapsing for many. If you're not getting network, judgment, or a credential that opens a specific door, the debt is harder to justify than ever.”

Go deeper with Jeff

Shai Bernstein

Professor at Harvard Business School focused on entrepreneurial finance and innovation

Studies venture capital

Why themBrings research on how investors shape young companies.

Shai’s advice: It pays off when it gives you people, tools, or signals you can't get cheaper elsewhere.

“I studied at Harvard for my Ph.D. because it opened doors to the research questions I cared about, not because the credential itself was the goal. College pays off when it gives you access to people, tools, or signals you cannot get cheaper elsewhere; otherwise the return is harder to justify.”

Go deeper with Shai

Tessa West

Professor of Psychology at NYU who studies how people communicate at work

Author of Jerks at Work

Why themResearch-based advice on difficult coworkers and job decisions.

Tessa’s advice: Worth it, but the major matters more than the degree.

“I think college is worth it, but the major matters more than the degree itself. Engineering and construction services punch above their weight on wages and unemployment, while anthropology and even computer science can leave people underemployed.”

Go deeper with Tessa

Vanessa Bohns

Social psychologist and Chair of Organizational Behavior at Cornell ILR

Author of You Have More Influence Than You Think

Why themExplains why asking, saying no, and speaking up feel so hard.

Vanessa’s advice: It gave her a path from the farm; the value is in the people and chances you use.

“For me, college was worth it because it gave me a path I could not have imagined from the farm where I grew up, but the real value depends on what you do with the people and chances you meet there. I still tell my students that one conversation with a professor can change a life, yet most never knock on the door.”

Go deeper with Vanessa

Ellen Langer

Social psychologist at Harvard who has researched mindfulness for over 45 years

First woman tenured in Harvard Psychology

Why themChallenges common assumptions about health, aging, and happiness.

Ellen’s advice: Worth it when it serves what you want to learn and do; the degree is no magic stamp.

“College is worth it when it serves what you actually want to learn and do, not when you treat the degree as a magic stamp. I’ve spent decades watching people chase credentials as if they guarantee a life, while the same institution can either wake you up or put you to sleep depending on how conditionally you engage with it.”

Go deeper with Ellen

Everyone’s advice at a glance

How to decide if college is worth it for you

1. 1

   Name what you want from it. Ellen Langer says college is worth it when it serves what you want to learn and do. Shai Bernstein asks whether it gives you people, tools, or signals you can't get cheaper elsewhere.

2. 2

   Weigh the debt against a specific door. Jeff Bussgang says that without a network, judgment, or a credential that opens a specific door, the debt is harder to justify than ever.

3. 3

   Choose the major with care. Tessa West says the major matters more than the degree. She names engineering and construction services as strong on wages and unemployment, and says anthropology and even computer science can leave people underemployed.

4. 4

   Don't count on the name. Tom Eisenmann found no correlation between an elite degree and startup success among 470 founders, and none for an MBA.

5. 5

   Use the people once you're there. Vanessa Bohns tells her students that one conversation with a professor can change a life, and says most never knock on the door.