Exactly. What exists is a scam, fed both by people's shortsightedness and stupidity, and also by their greediness for prestige. Look at how many Ivy League undergraduates are entering middle-of-the-road law schools alongside lazy state-schoolers who simply did well enough on the LSAT, with heaps of debt and poor job prospects - just because they had to show everyone just how good they were (no offense to anyone here, and please do not take all this absolutely literally).Birchwood wrote:Good point, which make me wonder why the hell we all work so hard to get into great (and $$) undergrads when going to a decent school would actually end up putting you ahead of the game in terms of both grad school admission and debt.Lomax wrote: In regards to borderline candidates from lesser-respected schools and/or with lesser-respected majors potentially losing out to ones from better-respected schools and/or with better-respected majors - key here is that had the former candidate gone to a better-respected school and/or chosen a better-respected major, he or she probably would have been an auto-reject instead of a borderline candidate, given the hit his or her GPA would almost certainly have taken.
Obviously a good number of high school seniors haven't figured out their post-UG plans, but it's safe to say that many of the bright/overachieving kids that end up at top UG's are planning on some kind of post-graduate study that would benefit from having big fish in a small pond type credentials. Not to mention substantially less stress.
Of course, for those going straight into business - perhaps hoping to soon enter a prestigious MBA program - having an Ivy League name on the resume would be a great thing.