[lotsofpulp]

As wealth and income disparity grow, there is much more to gain and lose by choosing the right school. It's not about the learning, it's about the network you will have for the rest of your life. Getting this right will grant you access to people wealthy enough to invest in you, people who know people who can get things done and move things along when you hit a wall (politicians/lawyers/doctors/etc). This is probably worth a lot as it all compounds over ones lifetime and translates to advantages even for their children and their children, hence the intense competition.