Parents of college age kids have two huge fears:
1) Their kid will not get into her or his dream college.
2) Their kid will get into his or her dream college.
With regards to the second point, parents and students can easily fall victim to the prestige game: the Ivies, MIT, Stanford, Chicago, Amherst, Williams, Swarthmore, etc. With costs running up and over $60,000 per year, it is fair to ask whether is meant to run a quarter of a million dollars.
My view: it’s not worth it. A fine education is available at excellent state universities and even community colleges, both of which have been beefing up their honors offerings for their brightest students. I look around UBS and plenty of successful directors are from less obvious academic institutions. I’m glad I went to Stanford and Penn. They were wonderful places to go to school, but attendance and graduation from a big name Ivy guarantees nothing; nor does attending a lesser prestige school preclude anything.