"Despite more and more evidence that graduates of the most selective schools do not earn much more over their lifetimes than their counterparts at other very good but less selective colleges, many students (and their parents, who pay the freight) still believe there is the kind of earnings premium for attending elite schools that might have existed a half century back."
The only kids who go to elitist schools that earn the big bucks are the kids of wealthy parents who get them their jobs after they graduate.
"The only kids who go to elitist schools that earn the big bucks are the kids of wealthy parents who get them their jobs after they graduate."
I think your statement is upside down, wrong. The wealthy kids often lack motivation to earn money.
In any event, too many colleges are not worth the price. Parents are paying from $100,000 to $160,000 for an undergrad degree that qualifies junior or sis for practically nothing, except radical politics. This is truly dumb.