The federal indictment of dozens of individuals for involvement in a college admissions conspiracy reveals the lengths to which some parents will go to gain their children's admission to an elite college. This desperate desire ignores evidence about what aspects of a college education matter most.
Share to twitterStanford University, one of the universities targeted by a college admissions criminal conspiracy. of almost 50 people including administrators, coaches and dozens of parents for their roles in offering and taking bribes to gain the fraudulent admission of students to elite colleges such as Stanford, Yale and Georgetown.
Admission to a top-shelf college has become the Holy Grail for many families who have bought into the notion that their children’s success in life will be all but guaranteed by graduating from an elite institution. Conversely, the failure to make it into an elite school is viewed with dread. Attending a “second-tier” college is feared as a failure that will predestinate a second-rate education, followed by a third-rate career.
And then we have the admission back doors that open up only for “legacies” and the children of the superrich in exchange for a seven-figure donation for the endowment or an eight-figure gift for a new building.
For the entire sample of 344 CEOs, 97% graduated from college. But only 36% of the executives who earned a college degree graduated from one of the top 50 colleges and universities. In every CEO category except the presidents of elite universities themselves, the majority received their degree from a non-elite institution.
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