And I should add that in an age of increasing inequality, a network with a lot of elite members will increase in value much faster than inflation. So the value

And I should add that in an age of increasing inequality, a network with a lot of elite members will increase in value much faster than inflation. So the value of an elite degree might still be a bargain even at the current prices. Which probably explains why there's a lot of bribery, legal and otherwise, by the rich trying to get students into brand-name schools.