[kenhwang]

There was a study suggesting the strongest social mobility influence granted by an university education is really just the proximity and opportunity to network with the wealthy on even grounds more than the education itself.

So by having a guaranteed ratio of very wealthy mixed into your student pool, it's hugely beneficial to everyone else. It's practically the reason people chase after prestigious MBA educations.

The practice might be distasteful philosophically, but the results are apparently great.