The Upper Classes’ Obsession With Prestigious Colleges—How Socioeconomic Status Influences Academics
#harvard #yale #princeton #columbiauniversity #dartmouth #cornell #brownuniversity #stanford
Let's dive into the upper-middle and upper classes' obsession with gaining admission into elite colleges and persuading children to enter high-paying careers. We'll talk about how one's socioeconomic status greatly influences the likelihood and opportunity of attending an ivy league and top-tier university.
Now, of course, there are many exceptions to this general stereotype that all rich people want their kids to go to elite schools and that all middle-class/poor people feel the opposite.
That is not the case at all. There are many middle-class or lower-income families that push their children to excel academically. On the other end of the spectrum, many wealthy families are less hands-on in wanting their kids to attend a prestigious university.
Ultimately, when we look at statistics, there is a direct correlation between one's socioeconomic upbringing and opportunities in young adulthood. This video will explain why the wealthy obsess over elite educations, and how those from lower and middle class settings generally perceive education do so differently.
I'm going to break down and compare common obstacles towards education by different groups of people:
The lower class, which makes up 25-30% of the Americans
The middle class, about 50% of the population
The upper-middle-class, which is where you'll see higher-earning individuals or families.
The upper class, those with high net worths and large incomes.
Ultra wealthy upper class, which, according to some are the people worth more than $30M. These are the successful entrepreneurs, people born into generational wealth, politicians, etc.
I'll also weigh in on my perspective as someone who chased and achieved this American dream of upward mobility. I don't come from wealth—my twin brother and I spent my entire educational journey in public schools or institutions, but I'm not blind to the privileges that many other doctors and I had.
In general, there are commonly fewer hurdles that you have to jump over in terms of success when you grow up in a wealthy family or high up on this socioeconomic spectrum.
This culture of encouraging your child to succeed comes down to components like money, resources, familial expectations, and the desire for your child to attain status and future security.
Outside of wealth, familial expectations are a huge component to your child's ability to succeed. You can be poor, but if you are a parent that pushes your child on a regular basis to value education, it can set them up for success. The parental mindset of placing emphasis on your child's education can greatly impact their ability to do well. There are poor parents who sacrifice everything they can for their children to have a strong academic foundation. There are also rich parents who don't care at all.
We will get into that, but the upper and ultra-wealthy upper classes have different perspectives throughout the journey. They can look at the $76-83k estimated cost of attendance PER YEAR to an ivy league school and not bat an eye. For most families, they know that in order for their children to attend these kinds of schools, they'll either have to get a scholarship or take their own loans.
This is why it's very common for most people to strive to attend top public schools, where the tuition is a fraction of the price.
Because let's say you have two children and want both of them to go to a 4-year private university? That would cost you about $640k. That is only for an undergraduate degree. That doesn't include raising the child and even potentially paying for their expensive K-12 private schools tuition. This also doesn't include the potential costs of grad school or doctorate education.
When you have millions in the bank, your only obstacle for attending top private schools is gaining admission.
Every family who values education has different goals for their children that they eventually may hold onto and strive for themselves. Common goals may be to get into a top state school or go to an elite private school, like an ivy league college or university with a low acceptance rate. Before we dive into how the wealthy perceive college admissions vs the rest of the population, we have to start back from the beginning when a baby is born, because parents from different socioeconomic classes will generally have very different experiences.
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This video was inspired by @amandamaryanna—here is a link to her video: [ Ссылка ]
