Of course, but that has nothing to do with the demand of elite schools. There's plenty of cheaper decent education options for better outcomes and decent jobs t

Of course, but that has nothing to do with the demand of elite schools. There's plenty of cheaper decent education options for better outcomes and decent jobs that have proliferated recently (online schooling, bootcamps, etc). But in regards to "elite" institutions, those with more money and a "stronger need" (ie more money) have and continue to drive the demand there.