That's the trick. They need to stock these colleges with smart and interesting kids in order to attract the sheltered idiots with wealthy upper middle-class par

That's the trick. They need to stock these colleges with smart and interesting kids in order to attract the sheltered idiots with wealthy upper middle-class parents. A lot of very talented broke people I know got full rides to mediocre schools that normally cost twice as much to attend as actually good schools. The school was taking absolutely no risk with them, they were proven prodigies that didn't really need school (and didn't have great grades.) Anyway, the best schools are free to attend (at least until the loan payments start.) You get showered with grants and loans if they accept you. It's the worthless ones that benefit from signalling their cost. Those are the schools paying smart (and culturally interesting) kids to attend, as atmosphere for the real customers.