I got into MIT. Should I go?

I strongly encourage you to contact MIT about your situation and family’s situation and try to negotiate out more financial aid.

As someone who went to a flagship state school for undergrad and ivy for phd…

A) Most of the people I know who turned down higher-ranked schools for lower-ranked ones because of money regret it. You will make a lot of life-long friends in college, and you will just be exposed to a different caliber of person on average at mit. Random people you meet through friends of friends at brunches or happy hours will be weirdly accomplished and teach you things.

B) Your analysis seems to hinge on doing a phd at a top-n school. What if it turns out after a few years of college that you don’t want to do a phd after all? Then instead of being either mit phd, or mit bs, you are z school bs. This may not be terrible, but not optimal.

D) On the other hand, I think the differences in career outcomes on average are small, although I wouldn’t be surprised if the probability of starting a company with any given level of success x is 10 times higher for mit alum than Z school alums. Anyway, median mit cs alum has some faang-y job throughout their careers, and these companies all know/understand that many top students can’t all afford top colleges, and so they recruit from state schools as well. So the tail outcomes can be quite different, mean/median isn’t that much.

E) For careers like management consulting or investment banking, some top firms only recruit at top-n schools. However, eg mckinsey even does on-campus recruiting at places like ut austin or georgia tech now, so then it doesn’t matter. You just need yo be at an on-campus recruitment target school.

In my opinion, the lifetime of friends and network effects is most of the benefit, and not to be underestimated. You only live once.

Definitely go to MIT. You'll hear a lot of advice about not paying a fortune for private universities when affordable state schools are just as good. This advice makes really good sense for most people, but MIT and Ivies are clear exceptions. Where cost ends up being the right thing to consider is at schools that don't make US News top 20, or in fields where you'll never expect much career income.

So long as you don't get distracted by the freedoms of university, MIT will pay for itself many times over. It's an unfortunate reality that there are prestige doors everywhere and merit only gets people so far. MIT will blast those doors wide open in fields like VC, consulting, and academia.

My MIT friends seem to largely have been underwhelmed by the quality of instruction (as with students at any university), but the career opportunities the brand and connections have opened for them have been enormous.

One caveat I'll give here is to be honest about your academic ability. The worst ROI by far is flunking out of MIT and other $$$ elite universities. MIT is actually pretty generous about how they treat freshmen, but you should 100% focus on ensuring that you can pass (or ideally excel at) your classes. Depending on your educational background, you may never have been properly challenged before and it can be a bit of an adjustment. In my experience the easiest techniques for doing well at top universities are sobriety, 8+ hours of sleep, strategic course selection, and tutoring at the first sign of trouble.

Most people are recommending you go so I'd like to offer a different perspective. I was in almost exactly the situation you are in 40 years ago. Got into MIT, Stanford and Caltech. I ended up going to Virginia Tech on a full scholarship. My plan was to do my undergrad there and then go to a more prestigious grad school, but I was rejected from MIT and Stanford for grad school so I ended up staying at Virginia Tech and doing a masters and Ph.D. there. I do not regret any of it, though I do sometimes wonder what might have been if I'd gone to Stanford because I love the Bay Area (I now live 20 minutes from Stanford). I have never for a moment regretted not going to MIT. (I did spend three months there in the summer of 1990 as a "visiting grad student" so I got a little taste of what that life would have been like.)

The real question you need to ask yourself is: what do you really want out of life? You say you want to get a Ph.D. and do a startup. But why do you want to do these things? Is it because you really want to do these things, or is it because you see this as a path to financial independence? If it's the former, then by all means, go to MIT. But if it's the latter, if what you really want is the freedom that (you think) money can buy, then you should think twice. For myself, my personal goal was to live a life where I was not beholden to anyone, and I accomplished that by going to a less rigorous school, staying out of debt, and having more than my share of good luck. So that worked for me. YMMV.

One thing I've learned: the hardest part of getting what you want is figuring out what it is. Figure that our first. Don't spend four or six or ten of your best years chasing someone else's dream.

As an alum of MIT, I highly recommend attending, if you are going to put in the work to be successful there. The fact that you have been admitted means you probably will.

In 30 years of working after college, with numerous job interviews along the way, the item most discussed in every single interview was that I went to MIT. Right or wrong, that is what has happened. To be clear, MIT teaches you how to think and that is what employers are looking for.

As for the cost, I agree with those above who stated that you should attempt to negotiate more financial aid from MIT. I also agree that MIT is one of the few (with the Ivy League schools, Stanford, and CaltTech) that are worth the cost. You will more than recover it over your career.

Finally, you can learn as much going to other schools such as Z. But, you will have to push yourself much harder whereas at MIT, the school will push you. It can make a big difference.

BTW, Boston is an amazing city in which to go to school. So much to do. So many other college age people there.

All I'll say is some of the smartest people I know went to MIT but also some of the VERY, VERY DUMBEST also went to MIT. The swath is so wide that I no longer automatically assume "Good Brand" when I see someone went to MIT - it's actually a red flag.

The latter group tend to be people who are "book smart" but otherwise out of touch with reality. For example: can't design or compute themselves out of a paper bag yet have disproportionate egos as if they could and well. Practicality isn't in their toolbag.

The out of touch is sometimes "in their own world" but it has also included "mentally ill" and "idiot savant smart in only one narrow area; utterly dumb in ALL others".

I've seen these also with other "elite" schools including East Coast Ivies as well as the West Coast equivalents; Stanford comes to mind, for instance.

On the other hand, when you get someone who is in the other group: actually able, it's a dream to work with them as long as their are low key about things. Truly smart people never have to "prove" or "brag" about their bono fides. They show by doing and being cool.

Numerically/Statistically I've found more people in this group will come lesser schools that value the process of teaching and students actually learning over pumping up their endowments or bleating about their pedigree or prestige.

As someone who went to undergrad for EECS at MIT, it’s interesting to see that everyone who didn’t go to MIT say to go there!

I’m not recommending against it, but it’s not all sunshine and roses. People there are not all “a different caliber of person”. Also being involved heavily in hiring, we don’t give that much weight to MIT just because it’s a top school. That being said, I did learn a lot, and some of the classes are taught with a level of completeness and internal consistency that for me lead to a deeper understanding and intuition for many concepts that is rare in other people. However I can’t say this is only MIT.

If you’re interested interested in talking privately, let me know and we can find a way to connect.

Some postscripts:

P.S. — I started programming when I was fairly young (about 10 years ago), and I've spent hours each day since then programming, reading blogs, and poring over books (SICP, Let Over Lambda, etc.). I'm especially passionate about OSS, and I've contributed to a number of projects of varying ilk over the years. Academically, I've worked really hard in school (while maintaining a balanced social life, of course). I particularly enjoy mathematics (I’ve taken up through Linear Algebra) and the sciences (I'm taking AP Physics II, AP Bio, and AP Chem this year). I understand that I’ve been very lucky, and want to make the most of my situation so that I may one day make the opportunities I’ve had access to more readily accessible

P.P.S. — I’m using a throwaway because, aside from this being a fairly personal matter, I've been active on HN for quite a while. A couple years ago, an open source project I started got a lot of traction on HN. Through HN, I have learned a lot from the blogs, books, and projects that have surfaced over the years. Needless to say, I wouldn't be in the position that I am today without your support, so thank you!

P.P.P.S — If you’d like to reach out privately, feel free to email

    mit-dilemma@pm.me

as I realize your replies may be, well, a bit personal.

I'm an MIT alum. I see nearly everyone advising you to go. I'm not sure. Even apart from the potential debt, it's not for everyone. I can't tell from your summary above whether it's a good fit for you.

There is no question that the MIT brand carries enormous prestige, and very likely if you don't go, there will be a part of your brain that forever feels regret from having turned down an opportunity to be "in a club." That regret can be a powerful emotional force. But it is orthogonal to the actual decisions and behaviors that matter to your life- like debt. You have control over and can work through emotional burdens of your past decisions on your own time and in your own way. Debt IS YOUR BOSS. It MUST be repaid on the lender's schedule.

I was a relatively high performer at MIT, had a few classes where I tested above the second std dev on a final. But my experience after MIT, and from having worked with and at a lot of organizations- there are smart people everywhere. What matters more in the broad sense are relationships and capacities to understand and communicate and work with a variety of people.

From "a club" perspective- the world is actually smaller now than it ever has been before, and there are many more post-college clubs- like YCombinator- that allow for relationship-building and creative problem solving with a like-minded cohort. What is most important is to be in a place and in a mind that allows YOU to succeed, to be YOUR authentic and most capable self. THAT person will be able to get into the clubs that are of interest.

Maybe MIT is slightly better of a place like that than Z for you. But $180k of principal to return is an extreme constraint on the dimensions of that authenticity.

I would second some specific points of advice:

* reach out to MIT again about financial aid

* try to have conversations with your candidate cohort in both places

* try to have conversations with people who rather than advocate, offer contrary advice, and look for what rings true to you. People who have experienced both MIT and Z can be especially helpful here

* work out an academic plan at both places

* work out a financial plan to understand the impact of having to return that quantity of principal

* work really hard at visualizing both pathways

Best wishes!

My son was just declined for MIT so good for you.

Advice I got from another person that went to MIT was to make sure you know what you want to do. He said that a lot of the faculty are world-class (not as big as Cal tech of course :-).

This person told me that if you’re simply going for a general education there are much better places to get that. But if you know what you want to do and you can carpe diem the opportunity to work with world-class experts, you can make things very good.

Don’t worry about your ability to succeed, you will. You’ll also fail a lot. It doesn’t matter how many times you fall down it matters how many times you get back up.

I applied but didn't get in to MIT undergrad for computer engineering. I ended up attending a good state school instead. Years later, I attended MIT for grad school.

With that context, my advice is twofold:

1. Surround yourself with people who will challenge you

2. Make financial decisions using net present value (NPV)

I've taken classes on four campuses over the years and found the quality of the instruction in the classroom was universally high and uncorrelated with the prestige of the institution. However, I found that I learned more deeply and tackled more ambitious goals when I was surrounded by other students in the most challenging programs. Furthermore, I continue to observe stark difference in the post-college opportunities for graduates that are highly correlated with each institution's reputation.

As for NPV, your chosen field means that the money you save or spend in the next few years will be swamped by your income later in life. Make a spreadsheet that stretches out over your working life and calculate the NPV of both paths.

TLDR: Go to MIT.

This really depends on what Z is.

I wound up going to a different private engineering school, with some discounts applied, and I regret making my parents pay much of that tuition instead of going to our state’s good state university.

You’ll be fine if your pick MIT. $180k at 5% interest is $9k a year. It’s less than a mortgage. It’ll be a fraction of rent in most places you’d consider working at later. You’ll want to pay it off as slowly as possible as long as the inflation rate is higher.

This is a tricky choice. I think deep inside, you know the answer because the choice is deeply personal.

I faced a similar situation years ago. Go into debt with a much higher ranked school or exit debt free from a lower ranked state school. I chose the latter, because deep inside I liked the idea of being debt free. I didn't regret it.

I went to grad school at a higher ranked school with financial aid.

Here are my notes:

- Opportunities in research, and employment are better at higher ranked schools. So going to a better school gives you an edge initially.

- You will have motivated students in all the schools. It's your choice to build your circle.

- I did find the quality of instruction better in my grad school, but it highly depends on the course/Prof. you take.

- the location of the school does matter as well in terms of opportunity and cost of living.

I think some criteria you can think about:

- long term potential of yourself

- would you regret not taking MIT

- how much debt can you endure, would it affect you?

One piece of advice (take or leave). Whatever choice you make, make it a point to not regret it in the future.

Good luck!!

Nobody seems to have mentioned that you can probably learn as much in 4 years at MIT as in 5-6 years at Z. The courses at MIT are going to be more rigorous and likely cover more stuff, and the ancillary learning / problem set sessions / dining halls will have a core of really committed students, so you'll absorb a lot of stuff that you haven't formally studied.

The result is that you'll be highly qualified to work after 4 years, and you'll save two years of studying -- the economics of that are extremely positive, not to mention you get two more years in your twenties.

Yes. My wife got the opportunity to go there for grad school and the year I spent on campus with her was one of the highlights of my life. It’s an amazing place, and it will give you as much as you put into it.

You go. Full stop. Do not pass it up. The connections you will meet will put your life on a totally different path.

If after one year you totally hate it, you can transfer to the other school. But going the other way may not be an option.

You should go. I was all set to go to Caltech or the Ivies and turned them down for mostly, though not entirely, financial reasons and went to a state school instead. Worked out mostly fine but much harder to get foot in the door and the opportunities and experiences you get in a place like MIT last a lifetime.

If you don't go, many doors will become closed or so much harder to get into that it's basically equivalent. Want to join a think tank, become a quant on Wallstreet, easily raise VC money at 23? These are all much easier with the credibility a MIT degree brings.

"Normal" degreed people essentially live a life where everybody assumes you are stupid until proven otherwise. MIT people are assumed to be smart until proven otherwise. That is a tremendous advantage in almost all contexts.

Not to mention the quality of your peers and the education itself. Don't pass up the opportunity to really challenge yourself and see what you can do. Sure, it's just undergrad and you aren't really solving anything of note but just being surrounded by the leaders of your field is inspiring and will push you to be your best.

Sample size 1 over here but especially MIT I would go. MIT is big and diverse enough that you can go as technical as you want, or study business, or…?

Anyway my 2 cents from a 30 something that has been around the block.

Congrats and good luck!

I toured MIT and didn't apply because I got the distinct sense my tour guide was miserable there. I didn't really know the importance attached to elite schools at the time, and ended up going to a top 25 school that I considered my top choice.

However, one of my siblings ended up going to MIT, and I can safely say had access to a variety of career opportunities that just weren't on the table at the school I attended - not because the students were smarter (I know several of my classmates and I had better test scores than my sibling), but MIT has a tremendous brand. Part of that is likely due to the rigor - I will admit, my sibling got challenged more and had to work a lot harder in college than I did. At my school, it was very possible to excel academically and still have a very active social life.

I knew several people who completed the author's plan, going to an elite school for grad studies. In liberal arts, I've seen it work reasonably well to be top of the class at a good but not Ivy League school, rather than middle of the pack at an Ivy. For engineering, it seems like it's more about working with well connected professors to get into competitive grad programs, and that is more likely to happen at MIT than other schools. As a reference, my top 25 CS program had 1 professor whose resume matches anyone in the business, but that was it, whereas at MIT you would have many more potential recommenders with a ton of pull.

It's hard for me to say what I would have done in retrospect, but those 4 years of undergrad can certainly alter the trajectory of the next 40 years of a career.

I graduated with honors from a state school, then I later went back to attend a PhD program (ultimately leaving before finishing even a masters). Overall, my experiences left me bitter and cynical about the entire system. With that perspective and hindsight, I think the most important things to consider are:

1) Do not go to any school that will leave you in debt. The education and experience is simply not worth it.

2) Do not choose a school based on its perceived reputation. There are just as many people that would avoid hiring Ivy League graduates as there are that would choose to hire them.

I know these are both unpopular opinions here, but consider that just might be due to the demographics here on HN.

It seems to me that you are looking for permission to turn down MIT. You don’t need permission. It’s your life, and you only get one.

Have you visited either school? Try to visit both if you can. I thought that a comparable institute-of-technology was my dream school. After visiting, it fell down to my last choice, in part because I couldn’t understand a word the lecturer said (thick accent) in the sample class and in part because of the unusual social scene.

If you are sure you want to work for big tech, people here are right that the debt will not be a big problem for you. But if you choose any other path, it might be an issue.

For what it’s worth, I wish I hadn’t worked so hard in undergrad. It did me little good. And my credential from [fancy school] doesn’t stop me from getting rejected plenty. The social network didn’t help me much because I am not very outgoing.

You will have to pass leetcode interviews to work at FAANG no matter which school you attend. Perhaps go to Z and use the time and money saved to practice leetcode. It sounds ridiculous, but maybe it isn’t!

I concede that meeting potential strong cofounders will be easier at MIT, though I wonder how many students want to start companies in a time when FAANG is the easier path to wealth.

I graduated with approx $200k of student loan debt. It took me ten years to pay it off. While I learned a lot about personal finance in those ten years, that's ten years that could have gone towards literally anything else.

I don't regret going to the school I went to (Stevens; not an Ivy) but I would never wish student debt on anyone.

That said, there are job opportunities that present themselves much more easily for people coming from Ivy Leagues and if you do well. So there's that to consider.

(Also, I thought I'd get my PhD when I started college...I didn't do that, and I don't regret it.)

I believe you should first think about your future work-life balance.

You'll only be a young student once and university is the best time to party, do sports, and work on your social and relationship skills. Many people also meet their spouse during university. Once university is over, or once you're too old to blend in, you will never again in your life have an equally easy time meeting new people.

If you go to MIT, there's a good chance you'll be working super hard and you'll have a lot of incentives to put in some extra work to truly excel and become financially successful. You will most likely also be able to meet and become friends with people who will become influential in the future. But you won't have as much time to goof around with others, especially not if you need to work on the side to finance your university time.

So it's also a trade-off between "social skills" and "work skills".

The gap between these is so immense, using the same word “college” masks the difference.

For all that is holy, go to MIT. This is from someone who went to a larger school and dropped out, with zero regrets.

The top 3-5 schools put you on a different plane of existence. The people you meet will be in the elite, you’ll be surrounded with the future top people in your field.

The academics don’t remotely matter. College is all about network. By being surrounded by elites, you are friends with elites, and you’ll live a different life.

I have a lot of friends who went to top schools, especially MIT. Much of their success and their network, into their 40’s, is still interconnected with their MIT network.

You will be treated differently. You’ll get a glow on your life from the status.

Life is a relay race between generations. By choosing MIT you drastically increase the chance of elevating your blood line into the upper class. That’s no small thing.

I’d strongly urge you to take the long view here.

Take the full ride to the place that has meaning to you, Z. If you end up enjoying academia, MIT has graduate programs, as you mentioned. And that way, if you find that academia wasn't for you, you aren't holding on to loans. Z is the path that is more adaptable as you walk into your future.

If you intend to get a graduate degree, you should go to Z for undergrad. If you have a PhD etc all that matters is the graduate institution associated with it. You will also be much better equipping to benefit from the opportunities at a research university as a grad student.

There is a good chance that the quality of instruction you will actually receive as a student will be better at Z. MIT professors have to split their time a dozen ways, and much of it isn't directed toward undergrads. Look into the actual professors you might be taking at both schools. Do they involve undergrads in their research? Are classes taught with pedagogy that appeals to you?

- put side the pure money question

- are you ready to sacrifice your near future, because of some possible far-future? weight possibilities / quality of life

- are you one that will use hir liasons to propel hirself, or one that will just work & live forward? weight your morals

- which one is easier to finish successfuly?

be honest to yourself. IT industry might be this or that, but does not hire just because of $(birth or education attributes). Doers succeed.

on the money - $180k might be a quarterly earning in USA/silicon valley, but outside of there, heh... i'm making software for 35y and still has not reached such yearly salary. and no need probably..

ah yes.. almost forgot: Have fun

> ...Z has offered... full-ride scholarship.

> If I went to MIT... $180k in debt.

Non bankrupt-able student loans are the modern day indentured servitude. At least in the early days of America you were free after 7 years, now days it's lifetime bondage.

These prices are fake. The money is fake, conjured up by a thought. But the indentured servitude is real.

At MIT you're not just paying for the education, but you're paying for the network of current students, professors, and alumni. You're paying for name-brand recognition and an easier way to get into grad schools and the job market.

I would look into financial aid at MIT and speak to financial aid advisors who work there, to see if you can get some sort of help.

If I were in your shoes I'd go to MIT, but then again I don't know what School Z is (i.e. if it's Carnegie Mellon or the University of Richmond, to name two very different schools).

180k is almost a house. If you graduate from Z you can take on a mortgage instead of paying off your debt living in an apartment. I'm sure you'll do extremely well at Z too, and you can go to fully funded grad programs if you want. I went to a public university for free and don't have any regrets really. If I could do anything differently, I'd go to a small liberal arts college for undergrad. Only reason I can see for going to MIT is for the prestige and the elite connections. But that life is not for everyone.

You should absolutely go to MIT. Consider negotiating more aid as someone else suggested, but even if that doesn't work, this is the best investment you'll ever make. If you want to do research, MIT's UROP program is amazing, and you'll be able to do whatever research you want as an undergrad. I really value my time at MIT - not only from an academic point of view, but also socially. Boston is full of college students, and believe it or not, MIT is actually probably the most socially active school there.

I went to a state school, going to an Ivy was never in the realm of possibility for me. But I do have friends from said state school that went on to grad school programs at MIT.

From my perspective they seemed to have gotten the best of both worlds.

A cheap but solid education and network at a very good state school where they could be top of the class among small fish rather than middle of the pack among big fish, and then a world class 4-6 year grad school research program that launched them into the upper echelons of the tech industry. They essentially beat the game.

A lot of good advice ITT already, so I'll just deposit my 2c:

1. If you're good enough to get accepted, you're probably going to be successful regardless of the path you choose.

2. If you go grad school route, that $180k is going to hang over you for the next 10 years, have a plan to service the interest.

3. You can probably enter the industry making $200k/yr minimum.

4. FOMO and regret are powerful but not fatal, status games entails their own burdens too.

5. It's really really hard to plan years in advance, especially when you're young. The thing you want today, you might not want tomorrow. The world will change and you will change, thus altering the calculus of desire. The advice I was given that served me well was make plans that maximize opportunity, rather than only focusing on creating linear paths to singular opportunities themselves. For ex. if MIT opens 10x more doors than Z, I'd opt for MIT, but if it's only say 2x I may lean towards Z.

6. Follow your heart, and good luck :)

Fascinating Q :) MIT compared to 'Z' doesn't sound good value to me! $180k debt you wouldn't have otherwise had, on top of having to do extra internships / work-study that presumably otherwise wouldn't have been required, which take away time that could've been used for studying better and having more social life / broader experiences. Sounds to me like an offer that's not an offer - "Congrats, we've deemed you clever enough to attend our prestigious institution, now pay us a s** load of money". If it were me, I'd do the calcs, what salary might you get, how long would that enable you to clear your debt in, what things in life does having to service the debt prevent or delay you from doing. If you really still want to go despite that, maybe its worth it.. but then perhaps request deferred entry for a year and try to get a very well-paid internship beforehand, to lower the up-front debt perhaps. Or... if it has to be a top tier school, consider another country! Even foreign student fees in other countries top universities would seem unlikely to produce that much debt... 1/3 to 1/2 maybe....

I faced a somewhat similar choice when I was accepted to colleges about 20 years ago. I was waitlisted at the most prestigious one (The other "institute of technology"), and thought I might have some chance of getting in, yet it would have been very expensive and I was offered a full ride at one of my lower choices (a good UC but not Berkeley or LA). I took the full ride and had a great time and learned a huge amount. I was one stronger students there so I took lots and lots of interesting classes, didn't stress too much, got two majors and a minor, met lots of people (including my life partner), had no problem getting whatever research experience I wanted. I ended up getting my PhD from that prestigious school I was waitlisted at. Many of the other students in my full ride program did similarly. So, if Z has good faculty/research (and many big US schools do) that will let you get the research experience and letters of rec to give you a shot of getting into MIT as a grad student, seems like a reasonable strategy. Another observation I had when I saw the undergrads at the prestigious school, and met a lot of grad students who had come from MIT, is that there is very specific culture associated with undergrads from those places. That is on the one hand a huge bonus - you're in an exclusive club with brilliant people, and they did some super fun hacks. On the other hand, if for whatever reason you don't fit into that culture (and its toxic elements like "overloading" on courses), then there aren't as many other options - at the big school, you can pick and choose from a much wider range of identities and groups of friends. Good luck! Don't stress too much - those are both great options and either way you will grow a lot from the experience.

If it were me I'd go to Z, and then apply to MIT for grad school. Your undergrad school doesn't matter as much as some people like to think it does.

Why? Cost is a factor, but there are other things to consider:

Will your professors actually be interested in teaching undergrad, or is it something they do because they have to? For undergrad, favor the school where the professors will be more interested in you. (Unless you're planning on getting involved in graduate-level projects as an undergrad.)

What kind of reputation do undergrad graduates of the schools have? My first internship was very close to MIT, and I didn't hear very nice things about their BS graduates. (But that was one datapoint.)

A few other things:

UMass Amherst has an awesome CS program. It's ranked close to MIT and costs a lot less. It's also about 90 minutes from Boston.

I learned so much more about tech outside of school than inside school. Yes, you can meet some truly awesome people at MIT. You can also meet truly awesome people anywhere, it all comes down to your ability to judge others' character and motivations.

I went to ETH Zurich and while I can't speak about the US, compared to peers that went to no name schools, it seems I have it a lot easier getting interviews and getting through them. I'm barely one year into my career and get interviews at more than 3 out of 5 places I apply, including direct contact with a lot of FAANG companies + recently received an offer from Adobe, which I declined as I value unconditional full remote atm more than a 30%~50% higher salary.

Point being, I can't regret going to ETH, even though it got really stressful sometimes and I have 50k debt to pay off - school just cost about 15k total for BSc & MSc, but you still have to pay for living - because at some point I will inevitably end up at a FAANG(-like) company as I too want to be able to afford a decent house and retirement.

I now know enough people that just coast by in (below) average jobs making (below) average money that have a hard time teaching themselves relevant skills and struggle getting interviews for well-paid positions.

Got with your gut. You can always go to MIT later. They have good postgrad, right? ;) Try the Jeff Bezos "regret minimization framework", see if that helps your thinking. Picture yourself in the future, down each of the chosen paths, and see which one you prefer, which one has more regret? Helps to take a perspective outside of yourself, outside of time.

I’ve just gone through the ringer with Unis here in Australia. Similar situation, except tuition fees are deferred for any uni until I’m working. The best advice is to choose the most enthusiastic teachers. Can you check who will teach you? It may sound silly, but dull teachers have nearly sapped my will to live, let alone complete my engineering degree. I ask them questions, they say ‘look at the lecture slides’. I attend their lectures, they drag it out and obviously don’t want to be there. The assessments are gruelling, cheating is widespread due to poor teaching. It’s an all-round depressing experience.

I attended a ‘lower-tier’ university for a year and the teachers there were great. They would be engaging for their whole lecture, enthusiastically answer questions and they imbued me with their passion for their subjects. Never underestimate how much a teacher can help you.

(When I say teacher you can just substitute ‘professor’)

MIT.

You are being objective about the cost dilemma, and attending the school is really more about what you make of it, there is no guarantee of any kind of compensation benefit after graduating, BUT if you remain as objective (and unencumbered) in your 20s as you are at 18 right now, you will be fine in the money-making sector.

Ivy League-adjacent schools are not the same as other schools, when it comes to both perception and access to the upper echelon of society.

If you were talking about state schools and Tier 1, 2 3 schools or even community college, then I would say just go to the one thats free. Because all you need is the paper that said you went there, or the database entry when some journalist checks 25 years from now. The education and networking benefit differences are nonexistent.

But with Ivy League-adjacent schools, its very different. This is a totally different America and world.

Never had the opportunity for someplace like MIT, I was restricted to state schools by a few factors mostly financially. Look at the size and depth of faculty in the departments of interest at school Z. We had a bummer of a faculty who got fired (he sucked) at a small school which meant that a lot of electives were not available because that small CS department was down a person. Granted this was the 90's and CS was just a few years removed from being part of the Math department.

Go to MIT and network with others (I've often heard that is the value of Ivy and top tier schools). When you land your first job, use 50% of your salary to pay off loans and you'll have that 180k wiped out in no time. I was going to joke that a college education set of loans is like a mortgage but mortgages are outpacing a lot of things these days.

I applied to MIT for undergrad (didn't get in, and this was with have worked for 3 years at the Naval Research Lab and winning awards). Did get into CMU, but they didn't offer me any money. U of MD offered me a full ride (+ stipend, would have been in the inaugural class of the gemstone honors program) and almost went there, but ended up going to a small liberal arts college for social reasons (who also made it financially worthwhile). Don't regret that decision.

I then applied to MIT again for grad school. Again didn't get in (kept working at NRL until I got into IBM's Extreme Blue internship program in its 2nd year (I've been lucky with opportunities, but MIT must really not like me :) ). Ended up going to Columbia. Had other opportunities as well (almost chose NYU and the person who was recruiting me then hopped to Stanford, so I probably would have followed him). But, again, don't regret that decision. At Columbia, I was given freedom to work on what interested me and ended up arguably creating something that is integral to how computers are managed today.

With all that said, I would strongly recommend you consider MIT, you will be pushed by your peers (if you so desire) to be better than you ever thought you could be. When I compare my small liberal arts college where I was a big fish computer science wise to Columbia, it was a world of difference. There are just more opportunities available at the "better schools" from peer projects to research opportunities.

On the flip side, I'm unsure its worth spending $200K (or even going into debt over), as you do want to go to grad school. But as others have said, 1) explore financial aid opportunities with them 2) explore external funding sources, there are many. yes, if option is big state school and zero debt for MIT and $200K debt, the calculus might lead one way, but that doesn't have to be the only scenario.

And even if you don't get into MIT for grad school if, you'll most likely get into a program that is a good fit for you.

MIT has a graduation rate of about 85%, which means that if you get in then you'll likely graduate. So it's like Stanford or med school: the real barrier is entry - once you're in they'll do all they can to get you to graduation.

I don't agree with this philosophy b/c it means an MIT education adds no more value than any other university. MIT, as well as many other schools, would improve their reputation by culling more students out in the 4 years.

So congrats: you've made the cut(in life)! You'll never have to worry again unless you really screw up (drugs, criminal behavior, etc). Hmmm, IIRC MAD MAGAZINE once published an issue that parodied this "med-school" situation.

It's weird that MIT is not offering more financial aid. I thought they were the same as the Ivies, i.e. "need blind" which means they'll offer you whatever you need to "afford" the school (YMMV based on parents' income, but if they're making < $150k a year, you should be getting _way_ more than 1 semester worth of tuition). I would recommend following-up on that – get in contact with the MIT admissions office and make sure you've filled out all the FAFSA paperwork correctly. Even if you have, tell them everything you said here. If they gave you the offer want you to accept and will work with you to make sure you can afford it.

Definitely choose MIT.

MIT as a brand name will open many doors, the debt you'd incur may close some of those doors.

If your intention is to go to grad school, consider what compound interest on whatever debt you need to take out for MIT undergrad will do over 8 years of undergrad. If your intention is to go into academic research, consider how a 60k/yr job will pay for that debt. If your intention is to start a startup, consider what your minimum costs will look like given the extra debt load.

A grad degree in ML from MIT will certainly net you a lucrative job in industry, but you maybe stuck taking the lucrative job out of fear of default rather than desire. Career freedom is important too many.

The reputation of Z (whatever that is) may actually have an effect on whether you get into a top grad school.

I knew a professor who said if they knew nothing about or had never heard professionally about any work done by the professors or graduates of the applicant's undergraduate department, they would usually reject that applicant, marking it, "insufficient preparation."

That sounds harsh, but he also said, "Every so often we'd make an exception, and it always turned out to be a mistake."

(Also, if you write the sentences like, "I applied to MIT for the sake of completeness," it does sound like MIT would be a good cultural fit.)

I have two pieces of advice.

1. One thing I learned after becoming an adult is that debt is a normal part of life. You'll have a mortgage. You'll have a car loan. And you'll have student debt. You quickly become used to debt, and you don't need to be afraid of it, especially if you will have a pedigree from MIT.

2. Your decision will ultimately be based on what kind of life you want for yourself. Do you want a comfortable life or an ultra-successful but challenging one? If it's the former, then a less prestigious school will do you fine. If it's the latter, then go to MIT.

I commend you on your careful consideration of the costs and potential benefits of various college choices. I didn't think that far ahead when I was 18 and unfortunately for many high school students, that choice can have a pretty significant impact on the trajectory of, at the very least, your early adult years.

That said, I did my undergrad at MIT about 25 yrs ago. I met my best friends there who, along with a lot of other students there, expanded my horizons in terms of ambition and possibilities in a good way. 20 years later, having MIT on my resume (along with a track record of solid tech work) still gets me a pretty incredible hit rate on job applications. I was offered a decent amount of financial aid but still came out with ~$80k in student loan debt which was a lot 25 years ago. Even in the early 2000s, I was able to pay that off pretty easily. I think that in the case of many career choices, the cost of a degree from an elite university is not worth it, but in the case of tech, I think the MIT degree is clearly worth it.

The one minor proviso I would add since you mentioned graduate work is that doing doctoral work at MIT is typically more difficult if you've done your undergrad there. On the other hand, doing an M.Eng. at MIT is quite easy if you have reasonable grades. The one-year M.Eng. _might_ be worth the extra year, but outside of narrow specialties, the opportunity cost of doctoral work relative to 3-5 years building experience and earning money in tech tends to favor the latter.

Go to MIT. If you don’t like it after a semester you can always transfer to Z.

You can get student loans and pay them off later with the inflated salary you will get as a result of having an MIT degree.

Just a message from someone who faced a nearly identical choice 20 years ago: 1) Whatever you choose, you will likely have a good education and a great career. Celebrate this. 2) You are much more likely to regret turning down MIT than taking on the extra debt.

I opted for the full ride at State U and had a very good education and a great career graduating with zero debt along with meeting the wonderful woman who became my wife. I owe a lot to State U who in my view invested way more in me than I ever invested back in them.

But State U's credibility only extended within the borders of the state and I ended up, like you described, going out of state to Prestigious U for my PhD. And there was definitely a cost - I did not have the peer education, easily open doors, etc. that would have been there had I turned down State U. I've definitely had moments in my career where doors were closed that would not have been had I opted for the heavier debt, better option.

Whatever you choose if you feel it would help for someone a little closer to your parent's age to make the case for your choice, I'd be happy to do that. I felt no one was able to talk sense to my parents and they were absolutely not listening to me at the time. I've got a lot more notches on my belt and can usually be persuasive however you think the decision should go.

Let me know.

There are several interesting studies on colleges, their ranking, and the outcomes of individuals. It's really well outlined in the book "David and Goliath" by Malcom Gladwell. Top schools don't necessarily increase your chances of getting and advanced degree or being successful. In fact, it can do the opposite. I recommend reading what he has to say and the studies, and let that help you determine if it's worth going.

I think it really depends on school Z. If it's a flagship, top in-state school (Michigan, Berkeley, UCLA, Virginia come to mind but aren't the only ones), you may have a better social experience and still have the ability to meet top talent. If it's one level below that, I'd consider MIT.

E.g. In CA I'd put Berkeley/UCLA at close to MIT for undergrad and a more fun place, but I'd choose MIT over UCSB or UCSD for academics and future career options. Not that there aren't smart, driven students at those schools, resumes speak for you to some extent and will open more doors.

You're not the only one making this decision, other smart kids are making the same choice. I chose a large state school over smaller, "higher ranked" private schools and regret nothing. I had a much more "fun" experience than any of my friends who went to those other schools, and I find most of their friends pretty unlikable (douchey rich kids).

Wow. This is tough. It all depends on your long term goals and who the hell knows those well when they are 18? I certainly didn't and I doubt you do either. (Your goal is pretty squishy, no offense.) If I were you, rather than pick a career goal, I'd like a few things that are important in your life and structure your career around them.

So then the question is what gives you the most optionality towards what may be your goal?

As others have said, the PhD may or may not be a goal after a few years of college (or, haha, a few years of PhD studies).

So I'd focus on the bachelor's. Then the question is, what do you gain from Z vs MIT.

On the Z side:

* Financial freedom (bc full ride)

* Some opportunities

On the MIT side:

* Higher caliber acquaintances and friends

* Pedigree

I am here to tell you that you can have a successful career (in terms of money) without any pedigree at all. But on the other hand I had one high school acquaintance with the exact same gpa and she went to MIT and has had a far more illustrious career than I (was also more ambitious too).

The question then becomes what do you value the most: the connections and pedigree and career achievements or the financial freedom and the chance to make your own way?

I have chosen the latter through most of my life and been pretty happy, but that's me.

What about you?

PS the comment to ask MIT for more money are spot on; it never hurts to ask.

This is actually kind of funny. I would say go where it's more passionate for you, not where more status is.

I made this mistake. I was going to go to UTS and do computer science. I loved programming as a hobby since a teenager, and I loved the "highrise" skyscraper campus of UTS. But I also applied to Sydney for Science, when I got accepted into both, I think I chose the "prestige" and "classic campus" of Sydney, over doing what was really passionate for me.

I wouldn't say that much that I regret it, I make the most of it, you know? But I know that had I got to study what and where I wanted just for me, my path would have been a lot more direct (as I ended up going into CS later anyway, but without the degree for it).

Sydney was good, and I enjoyed it and got a lot out of it, but it wasn't really "me" as much as the other place was. I do regret it a bit actually. The people I would have met there (and ended up meeting some later through friends), the different life I would have had a focus on. I think I would have enjoyed it, actually, it was for me. I think I should have chosen the other one :)

You have the option of a "full ride" and you're wondering if it's good enough to take?

TAKE THE MONEY. Take the tangible up front benefit over hypothetical benefits that might, or might not, come later. Do not discount the value of keeping your debt low. Debt is a life changed. It is like wearing a strait jacket for every other decision you will make for decades to come.

You have the chance to avoid this. Take it!

TAKE THE MONEY!!!!!!!!!!!!!!!!!!!!!!

If you have sound mental health and are extremely driven, are able to focus despite the courseload and competition, and you are confident you'll graduate on time, then pick MIT. You minimize debt by graduating as soon as possible.

Average folk may take 5-6 years to graduate with an engineering degree because it's that difficult. Gotta retake classes and work part time, haha.

Regardless of college, what you do outside of classes is more important (networking). There are smart people everywhere, so you're not missing much if you skip MIT.

I will say though, the MIT campus is right by the river and has a serene feeling. Are you able to visit the place, and do you like the idea of being there for the next 4 years? If you have a mental health issue like seasonal affective disorder, you'll be miserable at MIT due to the geography, and no amount of justifying a bad location will save you.

Having some extra money means you can afford to study abroad. Picking up a new language may become your passion.

Either way, I don't think there's a wrong choice. You'll have to weigh and rank your desires accordingly.

"...MIT hasn’t offered me any financial aid."

"... Z has offered me what essentially amounts to a full-ride scholarship."

I would go to Z. Free college? Why not.

FWIW I was given new unanticipated financial aid during freshman orientation. IMO a large student debt is terrible if you come out of college with a major that doesn't immediately lead to a lucrative career, but in any sort of STEM major I wouldn't worry about it. You'll pay it off in no time. Just make sure a STEM career is what you actually want, and don't flunk!

I have no guarantee that I’d get into grad school at MIT even coming out of MIT’s undergraduate program, but the chances are significantly higher.

are you sure about that? Multiple tier 1 schools have a semi-official policy against reacceptance of undergrads into grad; idea being that it’s better for your development to get exposed to different university cultures.

Ignore the money and go to the better place.

You're here. You're going to make millions over your career.

If I could give any advice to 20-year-old me, it'd be to stop being such a miser and just work hard instead.

Consider the counterfactual: let's say you can't make back that $180K. Say you're 40 years old and $180K is still unfathomable. What happened?

I think you should go to MIT.

That being said I can’t help but laugh at the people saying MIT will open many doors etc. fact of the matter is - MIT and it’s ilk are simply good at identifying who we’re going to succeed anyway.

I’d be very surprised if there’s a huge difference in success between someone who got it and didn’t go vs someone who attended.

As someone outside of America - it seems insane you would go into private debt for over a decade just to have MIT written on a piece of paper. I am sure the instruction is good and you will meet some great people but after you have been in the industry for a while it won't matter one bit where you went to tertiary education or even if you went to tertiary education. For technical subjects, in the modern Internet era, University is just a foot in the door and MIT is a very expensive foot in the door.

I work in cyber security and also sit on recruitment for our org. I barely care what the undergrad education history is on an application - especially if they have 1+ jobs since graduation. The applicant's ability to know what they are talking about and problem solve, plus their cultural fit, is much more important.

We all have many paths we could take through life, but have to select one. You never will know how your life would have turned out on a path you didn't choose, and neither do any of the people giving advice. You choose, do your best, and adjust if things aren't going the way you want. Good luck with your decision!

For the record, I love computers, hated school, and only went to get the piece of paper. I went to Indiana University, Purdue, Oakland (in MI) and finally graduated from U of L's Speed engineering school. I never used anything I learned in school: the computer classes were lame, but I do think the piece of paper kept me from getting rejected for large independent contracting jobs (I've mostly worked independently my whole life), so I'm very glad I went. You're welcome to contact me.

> Regardless of whichever path I take, I want to work for a larger tech company to gain experience before I bootstrap a sustainable startup (I mean, that's the dream, isn't it?).

Don't wait. Go to MIT for undergrad. Meet some like-minded people there. Start something while you're an undergrad.

>MIT hasn’t offered me any financial aid

>Z has offered me what essentially amounts to a full-ride scholarship.

The answer is clear, and you can always do a masters degree at MIT if you just really want to have that on your resume. Burying yourself in unnecessary debt is a stupid decision that millions of people regret.

Is there a good reason for not mentioning what school Z is? It makes a big difference if we're talking UCLA versus GW.

If you go to MIT, you will be a smaller fish in a more prestigious pond. If you go to UCLA, you would be a bigger fish in a less prestigious pond. If you go to GW, you would be a bigger fish in a not very prestigious pond.

If you excel at a school like UCLA, you should still be able to get into a good grad program, assuming you have taken classes or shown interest in the relevant area. But if we're talking a school like GW (no offense to anyone here who went there!), it would be more difficult. Most people would assume that students who went to GW would not have been admitted to MIT, partly because GW's much lower in the rankings, and partly because it's private (and therefore not cheaper).

I know lots of people who got into great grad programs who went to 'lesser' undergrad schools, especially public schools. It would be easier to get into grad programs if you did awesome and went to MIT. But consider that you might not stand out so much at MIT as you would elsewhere. Recommendation letters from professors will be more glowing if you are at a less competitive institution.

One last thing: realize that different schools calculate financial aid differently when siblings are in the picture. Carleton College, where my older brother went to school, knew that I was going to be attending college soon and gave him an aid package that did not change over the 4 years, including when I was in school. We assumed that Swarthmore College, where I went, would do the same. I was wrong. After my brother graduated, my aid package was cut dramatically. We had to plead with them to keep it steady, which ultimately they did.

You should check with MIT's financial aid office to see how they do things. If you're the oldest, they're probably hoping to suck out some cash before other siblings are in college. You might be able to convince them to give you a package across all 4 years that remains steady, or commit to offering a package when your siblings are in school.

Highly advise going to MIT despite a lot of suggestions otherwise. You might not get any different education, but It is absolutely going to open doors that'll either allow you to do exactly what you want to do, or make a lot more money then otherwise possible.

Hey, let me throw option 3 into the mix: don't go to either and apply to work for us. We are building an AI research lab that we fund by applying ML techniques to trading. On the trading side, we offer large bonuses if you do well (1-10M is realistic and has happened), On the research side, high fixed pay (competitive with brain or deepmind). We require that you know how to program, are curious and learn fast. Myself I'm into symbolic reasoning and probabilistic programming. DM me at not_a_cat at fastmail dot com if interested, at the very least it will provide a 3rd data point with which to compare your two other options.

It’s an interesting dilemma. How we complicate our lives by having so many options. The overthinking and the hedging we do. And turn one goal into many. One direction into many.

You want to bootstrap a small company. By working for a large company. By getting a graduate degree. By getting $180k in debt.

Just take out the $180K loan and start your business. This is what Peter Thiel fellowship would have you do.

This long path of avoidance and preparation to work on what you want to work on…. life is too short.

Smart enough to get into MIT is smart enough to succeed whatever path you choose.

The point is. Be clear of your end goal. The path will then be obvious.

Go to Z. I had the same thing. I dropped out of an expensive school and just followed my interests, later returning to the school I liked that was nearly free. Zero debt beats any reason. Plus.. MIT students. Shudder.

It's not clear why Z needs to be undisclosed and it makes it harder to give you advice.

I second people talking about the 'regret minimization framework'. It sounds like you will be studying something technical. Look up big tech salaries on levels.fyi, there's no guarantee those numbers will be there but, 5-10 years into your career, you might be able to save your MIT tuition easily with a tech salary. If you got to that point, would you regret not going to MIT? On the other hand, if bootstrapping a start-up is important to you, it might be difficult to do that when you have college debt.

It's good that you're seeking advice. Writing down your thoughts clears the head too, and makes you notice spots where you're pushing to convince yourself. For big decisions like this, I write all my thoughts as I do my research. As I get closer to the decision, I make a list of pros, cons, known unknowns / risks, then sleep on it. I never regretted a decision I made in that way.

Hard choice man. I went to a private engineering school and graduated with ~80k of debt. Paid it off in 4 years after graduation - no regrets about going there. I was not highly motivated or focused on what I wanted to do when I was 18 so I didn't try to really do more than what came easy. If I had to do it again with what I know now and I had the choice to go to MIT, I 100% would. You can also work/find scholarships/etc. during your studies to finance it. I would have been in over 140k if I didn't do anything on the side.

Given your aspirations, the choice is MIT. The connections and pedigree will matter when you go to try to start a company. Also clear that you are entering a field where the cost of eduction is not really going to matter that much. You are going to make plenty of money to pay back student loans.

The one proviso: you gotta love the field. A worst case pass is to get the expensive education and to learn that you don't love it. That's a bad outcome. But assuming that you've had enough experience with open source that you feel the calling: MIT.

Don't. Source: class of '01. Was miserable there. Took years to mentally recover. It's a very high stress undergrad environment. Grad students mostly seem to do OK.

> I realize that to some in the tech industry $180k may seem like nothing

But once you have a degree on MIT, you'll be one of those people in the tech industry to whom $180k may seem like nothing. You will be able to pay those loans off after graduation. By the time you're 40, you'll be kicking yourself for not taking advantage of this once-in-a-lifetime opportunity if you don't take it.

Go to MIT

Path : Ivy > big tech > ivy > research lab > startup

We non-Americans are continually stunned at how you Americans fetishize brand name universities. You don't become a better engineer by going to MIT instead of University of Kuala Lumpur. Everyone knows it's bs but everyone believes everyone else believes in this bs so everyone has to spend $$$ to go to a brand name university. A self-perpetuating cycle of bs.

I have a friend who had the exact same circumstances you describe. He decided to go to the local state school which gave him a full scholarship. Graduated with zero debt and now has a successful career as an electrical engineer working at a Silicon Valley startup. He told me everything he needed to know to do his job well, he learned from his dad (electronics, UNIX, C, etc.).

I find this off-the-wall article is worth reading from Moxie.

"Do whatever — but make it uncomfortable (like leaving prison!) and make it count."

https://moxie.org/2013/01/07/career-advice.html

I think without knowing Z, it’s hard to give advice.

I assume Z is a public school that’s at least decent in Computer Science? If Z was on the level of UT Austin or University of Maryland, College Park, then going to MIT is a no brainer.

However, if Z is Berkeley, then that’s a much tougher decision and I might lean towards Berkeley.

I was in the same boat, and not choosing MIT took many years to overcome. One thing I was not aware of at the time, is that MIT will make sure you have the tuition assistance necessary to make it through. As _wallscratch_ mentions, it is in your best interest to contact them immediately.

How do you weight the choice?

- MIT is $180K and Z is free. Don't underestimate the stress those finances put on you - now and realistically for the remainder of your working life. These stresses will make you more likely to dropout of MIT than college Z.

- At MIT you have the opportunity to be surrounded by really smart people, however you don't appear to be one of them. Why? They didn't offer you any scholarship. That means you're the person paying for all the smart people's scholarship. I know that stings, but that's a truth of higher-education that isn't discussed enough. Just because you got in doesn't really mean they want you. If they actually want you then they'll pay for you - like college Z is. Also, don't underestimate attending a college that actually wants you to be there.

- Matriculating from MIT definitely improves the odds of your being accepted into their graduate school. However, keep in mind that right now they don't see you as one of their best students. Hopefully that would change in 4 years!

- What do you want to do after college? Do you want to remain in Academia or do research in industry? MIT credentials look really good for academia, not as much for industry (not that they look bad for industry!)

- While having MIT credentials may look good for academia the pay isn't typically as good compared to industry and you'll be graduating with a humongous debt.

- You should also talk this through with a financial advisor. This is a stupendous financial decision that will have ramifications for the next several decades of your life. Don't make this decision on emotion or well wishes of friends and family. You need someone to lay out the facts.

- I've known several MIT graduates who are quite mediocre. MIT won't make you great, you still have to do the work.

- There are lots of people working at larger tech companies who did not graduate from MIT. If you're not planning on going into academia then I would place more emphasis on your internships and your contacts there than the college you attend.

You have a lot to think about!

What would I do? I'd go to college Z. You'll be in a much better financial position for doing entrepreneurial work because it's hard to start a business when you yourself are financially strapped. They want you, and you have family in the area to help you out (even if it's just a good home-cooked meal once a month - it helps). Focus on your internships. Plus, who knows? You may change your area of focus by the time you graduate! Then you can assess your next steps.

Go to MIT. Definitely contact their office.

Congratulations- this is no small feat. I hope you feel very proud of yourself.

You will be fine either way, but you only get to do your undergrad at MIT once in your life :)

Go to MIT and make sure you seize that opportunity every day. Work hard, get into a research lab early, and don’t forget to enjoy yourself too!

Not sure if this is still the case, but at least before MIT didn't accept people outside MIT to their Master's programs for some majors, instead you would have had to apply directly to a PhD program

MIT - you'll meet way more people that will challenge/inspire you.

MIT.

If money is the only issue not to go to MIT, that's a solvable problem (debt, future scholarship etc). A higher ranked prestigious school will help you throughout your life. Go for it.

If you're going to ask for peoples advice, you should probably make it a lot easier for them by referring to Z by it's real name.

I went to MIT for undergrad in EECS and am currently in the MEng program here.

I think the education you get at MIT is well executed (although I took a kind of weird path) with a lot of great classes. On average, I would say they're reasonably well taught. However, one thing to keep in mind is that EECS is a huge department--intro CS classes will have hundreds of people. (I happen to currently be TAing one of those giant classes now haha.) They will be a well oiled machine generally taught by good lecturers with a lot of staff, but you probably won't get personal attention from professors in your intro algorithms or programming courses.

Regarding grad school specifically: as others have pointed out, doing undergrad at MIT can actually hurt your chances of doing a PhD here, but it varies by my department. Looking at my lab group (which is part of CSAIL), I think only one of the PhD students did undergrad here. However, if you're interested in a masters (specifically a two to three semester long MEng), it's a completely different story. The bar is actually kind of low for getting in, but it's only available for MIT undergrads. (Because it's so easy to get in, getting funding for your MEng is more stressful, but that's a whole other can of worms.) Some insane portion (like a third or something) of EECS undergrads stick around for the MEng.

I think when I was considering undergrad schools, I didn't really internalize the connections aspect of college. I kind of assumed that the benefit of MIT for jobs would just be resume clout (which I'm sure is there) but in terms of finding jobs, the real benefit is the connections you make. I got the interviews for my current job offer and my last internship because I knew people already at those companies. The network effects of just knowing a lot of people who are smart and have similar-ish life goals are very powerful.

This one is the most fuzzy, but I do think that the culture stuff should also weigh into your decision. For whatever reason, I have found it way easier to make friends and interact with others at MIT than I ever did in high school, and it's made a huge difference in my life. If you haven't already, read the MIT admissions blogs--obviously a specific sort of student signs up to write those, but they can be a helpful guide.

Also, FWIW: I don't know your gender or anything else about your background, but I am female and the almost even gender ratio at MIT was a big deciding factor for me. I know female students in STEM classes experience a lot of difficulties at other schools, but based on my experiences (and the experiences of my female friends), it's much less of an issue here.

Last thing I'll say: unless you are a once in a generation genius, MIT will kick your ass. It will suck. But it happens to everyone, and it will make you a better person to get knocked off of whatever pedestal you occupied in high school.

Hope that is helpful!

There's a reason all the FAANGO companies are are in Cambridge and that's because of MIT.

Stanford has better weather :)

I was in a near exact situation when I was going to college:

1. I was accepted into MIT 2. I was also accepted into my hometown college (Texas Tech University) with a near-full ride scholarship.

My parents could help with the rest of the TTU tuition, but wouldn't be able to even cover ONE semester of MIT. MIT is VERY expensive and the only option would've been to take out tons of student loans.

As others have suggested, you need to be scrambling for financial aid. I wish I'd looked harder, but to be honest, it's going to be tough. Even the most wealthy cannot really afford MIT. And to get an academic scholarship at MIT?! That's going to be very very tough. Then again, these are all the things I told myself. So maybe try what I didn't.

I ended up attending TTU. To make the most of it, I did a dual-degree program (Electrical Engineer & Computer Science dual-degree 5 year program). It was intense, but in the end, I have two B.S. on my wall. I put my everything into college and kept my GPA up. I consistently held myself to the standard that MIT would've expected. I ended up not going to grad school because it would've also required student loans. I also got a job out of college. So making money made way more sense than pilling on debt.

So by going to the small college, I ended up coming out with a paltry $10k in student loans. I paid that off fairly quickly. Thereafter, once I had my first job under my belt, what college I went to literally didn't matter one bit. I now work at FAANG alongside people from other no-name colleges as well as the Big Names. No one cares after you're 25-30 and have a couple of years under your belt. I could go work for a startup now, but literally only because I have no student loans (hell, I even paid off my wife's grad school loans).

In hindsight, it actually worked out super great that I didn't go into MIT. Not having student loans meant that I could focus on getting ahead in wealth and in life. Again, all said, focus on giving yourself as many opportunities and options, that's the primary advantage of your age.

(On a personal note, I made my best friends and met my wife at TTU, so even with a time machine I wouldn't risk it).

I know people talk a lot about the network effect, but TTU also had a network, and any college will as well. Maybe not as top-tier as MIT (by definition) but it was also more friendly. When I visited MIT campus-preview weekend, it was greatly divided by houses, which were divided by a class/wealth hierarchy. The "good" houses were even more expensive (don't forget to account for room and board!), so everything is continuously gated by money. At TTU, all the dorms were just dorms. There was some greek life but anyone could join the professional orgs and that's what really mattered.

But from a purely objective financial perspective, not going to MIT didn't hold me back one bit as I still hit all the goals I set out anyway. And now I make $300k+ a year and it's all mine (debt-free except for a mortgage).

EDIT: Also, Congratulations! Getting accepted is great and you should take the moment to be proud. It's also a strong indication that you're going to do very well either way. Z is low-risk, moderate-reward. MIT is higher-risk but also upmost-reward.

Go to MIT

Z might be bigger, but are the CS class sizes larger? I went to a fairly large university but it had a small CS department and most classes had <25 students which meant you got a lot of attention from your professors. Also keep in mind that CS curricula are more or less standardized by ACM/ABET so the largest differences will be in electives/research projects.

Arguably the most important part is social. You've read SICP and already contribute to OSS so I'll assume you already know you can teach yourself. Understand that modern university is mostly a social thing and less of an educational thing. Look at the clubs on campus and see if you think you'll enjoy them. Most of my friends and a couple people I dated came from the robotics club for example.

Don't underestimate the value of the financial aid. Not having everything paid for can add a lot of stress and once you start getting internships you'll probably want to use the money for side projects/investments/dates etc.