Is an expensive private college worth it over a cheaper state school for the same major?

For most students and most majors, the evidence says the cost difference rarely pays off. Research widely cited by economists, including work analyzing College Scorecard earnings data, finds that for the typical student, earnings depend far more on the field of study and the individual than on the prestige or price of the school. There are exceptions: elite networks matter more in a few fields like investment banking, and highly selective schools can lift outcomes for lower-income and first-generation students. But paying double for a private school to study the same major offered at a strong state university usually means more debt for a similar salary. Compare each school's net price (after aid, via its net price calculator), your likely debt, and the specific program's outcomes rather than the sticker prestige.