First off, a Diploma is earned by graduating from high school and a Degree is awarded from institutions of higher learning, colleges or universities. The state vs. private colleges at Cornell are all highly regarded. The "which school" snobbery is far more prevalent amongst Cornellians than non Cornell educated people. There are an outsized number of Cornell grads in finance from the private side and the state side (where the business major actually resides). Go Big Red!