"Go to a cheap school"— Shark Tank mentor Mark Cuban advises students to focus on learning over prestige

Shark Tank mentor and Dallas Mavericks owner Mark Cuban shared his thoughts on the value of higher education in an interview with social media personality Jules Terpak on December 16, 2024.

“Go to a cheap school... going to school isn’t about your major — at least not in the first two years,” Cuban’s advised prospective students.

Cuban talked about how the benefits of college are not necessarily tied to prestige or high tuition costs, but rather to the opportunities it provides to learn and grow. He attended Indiana University due to its affordable tuition, highlighting the importance of using college as a tool to explore ideas, meet diverse people, and develop critical skills.

He addressed common concerns about the rising costs of education and student loan debt, urging students to consider less expensive options, such as community colleges or public universities with financial aid.

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Mark Cuban’s perspective on affordable education

Mark Cuban advocated for accessible and affordable education as a pathway to success. Cuban advised students to consider community colleges and public universities, which often provide a high-quality education at a fraction of the cost of private institutions.

Drawing from his own experience, Cuban started at the University of Pittsburgh before transferring to Indiana University. He chose Indiana for its affordability, even as it ranked among the nation’s top business schools.

According to Mark Cuban, students should focus on gaining practical skills, such as accounting, finance, and marketing, which are indispensable in the business world. Cuban also dismissed the idea that attending an elite school is essential for success.

“If you want to start a business, go to college and learn the language of business. Those are tools that are really going to be helpful for business, even if you don’t end up getting a degree. That’s fine.” he explained.

For students unsure about their future, Cuban suggested starting at a community college, where tuition averages just over $4,000 per year. This approach minimizes financial risk while allowing students to build foundational knowledge and explore their interests.

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Cuban's perspective about focusing on learning over prestige

While many students and families often prioritized rankings and reputation, Cuban encouraged a shift in focus toward the actual skills and experiences gained during college. He suggested that students explore diverse opportunities, whether through internships, coursework, or building connections with peers and mentors.

“It’s about learning how to learn and it’s about getting excited to learn,” he explained

Studies have supported this perspective, showing that the quality of a student’s college experience often outweighed the significance of the institution’s name.

The 2014 Gallup-Purdue study revealed that factors such as faculty engagement, participation in extracurricular activities, and mentorship had a greater impact on long-term success and satisfaction than attending a top-tier school.

“We all know people who went to these highly selective schools whose lives did not turn out as well as they had hoped,” he said.

Mark Cuban also pointed out that starting at a more affordable institution, such as a community college, could serve as a stepping stone for students who might later transfer to four-year universities.

"I’m not one of these people that says: ‘Don’t go to college. Go start a company,’" Cuban mentioned.

Ultimately, Cuban’s guidance encourages students to view education as an investment in personal growth and practical skills rather than a pursuit of prestige.

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Watch Mark Cuban in the latest episodes of Shark Tank, airing every Friday at 8 pm ET on ABC.