Well, I'll add in my own anecdotal experience. I went to a college that most of you would recognize (similar to Reed in feel) but which is not top of the top. I grew up in a UMC environment, but had never been to Europe, Hawaii, etc. I did not own a car and hadn't travelled beyond family vacations to national parks and the beach. I had never been anywhere for spring break. I had an on-campus job my first two years (after that family income went up and I didn't need one) and had limited spending money--maybe like, $20 a week?--saved from my summer jobs. I gravitated towards people like me, socioeconomically--children of professors and scientists. I naturally avoided the prep school kids somehow. This was not actually intentional. I had a few friends who were on a lot of financial aid, but usually this was because they were children of divorce. I had no trouble making friends and had a great time. Consumption was not conspicuous at my school--not considered the thing to do. I would send my kids to a school similar to this and not worry much, even though there were certainly rich kids there and they could fall in with a different crowd. I know people who went to Yale, etc and they report different experiences, but it does seem to be fairly individual. My husband went to a school much like mine but a bit more old-money, and heard some of the "Oh, which part of Europe did you like best?" stuff. FWIW, I would absolutely recommend a "Reed-like" school for gifted kids. There was a real atmosphere of intellectual curiosity there--people were passionate about their interests.