I agree. You have to choose for yourself what it is you want out of college. If it's just contacts, then going to charity balls and concerts is a better way to spend the money. You are going for bonding experiences with the wealthy [0] in order to cement relations and trust and Harvard is a lot more expensive to gain trust than a night in Vegas with head-honchos.
If you go to college just for the education, then there are a lot of places that are very good for the dollar [1] (still though, Ivys dominate).
If you want a mix of the two, it seems as if you'd still want to go to prestigious schools. They have the scholarships, very good teaching, grade inflation, the connections to the progeny of money, and their grads are well received in industry and elsewhere. Really, a cursory look at the data does seem to indicate an Ivy or the Claremonts (though many exceptions exist[2])
Certainly. Prestigious schools offer a package of things, you (as always) need to assess for yourself how well that package fits your needs and how that compares to your other options compared to the costs (in money, time, effort).
If you go to college just for the education, then there are a lot of places that are very good for the dollar [1] (still though, Ivys dominate).
If you want a mix of the two, it seems as if you'd still want to go to prestigious schools. They have the scholarships, very good teaching, grade inflation, the connections to the progeny of money, and their grads are well received in industry and elsewhere. Really, a cursory look at the data does seem to indicate an Ivy or the Claremonts (though many exceptions exist[2])
[0]https://en.wikipedia.org/wiki/Human_bonding (Actually a good article to read)
[1]http://colleges.usnews.rankingsandreviews.com/best-colleges/...
[2]https://en.wikipedia.org/wiki/Deep_Springs_College