There is a widespread perception that quality education is only available to the rich and elite. However, there is no hard evidence for this. Poor children often receive inferior education in public schools, while children of rich parents often have better learning environments in early elementary grades. Private elementary schools can cost tens of thousands of dollars per year, and prestigious colleges such as Phillips Academy in Andover, Massachusetts, have billion-dollar endowments.
Competitive college system
The problem with the competitive college system is that wealthy people will do almost anything to get their children into high-quality schools. Some, like William “Rick” Singer, admitted to orchestrating a fraud that led to thousands of children getting into selective private schools. According to him, there are three ways to enter college. One way is through paying bribes. Another way is to fake test scores.
The best college graduates
It has been proven that the value of a university degree is inversely related to a student’s socio-economic status. The best college graduates already have high career success, and that makes the recent college admissions scandal all the more ironic for the wealthy, who would already enjoy their status anyway. The irony here is that a college degree practically guarantees a good place in life, but that is not true.