Of course we want our offspring to receive a solid, unbiased, and useful education. That said and the educational result being the same, an engineering degree from Stanford will afford more opportunities than say the same degree from State Tech. Elites perpetuate their power by exercising power. We delude ourselves in believing America is a meritocracy.
Hard science degrees are not the same as the arts. An engineering degree from Stanford will get you in a top company for your first job. After 3 years no one even asks what college you attended. I work side by side with a Standford grad.