Originally Posted by aquinas
I actually agree with Bostonians comment. If theres a subset of Ivy admissions that relies on infusions of endowments for enrolment, call a spade a spade. The reason such honesty doesnt exist is because those wealthy families who so strongly identify with Ivy status that theyre willing to buy it lack the self awareness to openly accept their progenys lack of genuine ability at face value, and the implications that carries about themselves. The value they get is plausible deniability to themselves. A rich, deluded idiot will, apparently, part with a lot of money to avoid reality.
"Delusion" may not play a large role. Some rich people may rationally believe that if they can buy their offspring a place at Harvard, the connections their children will make there will boost their careers or help them marry well. If you have say $100 million, are you deluded to prefer to have $99 million and a kid at a Harvard or Princeton, rather than State U?