&gt; <i>When people discuss the value signaling provided by elite universities, their first example is usually &quot;the diligence and hard work it takes to get into the university&quot;...</i><p>Graduation rates at universities for the elite are nearly 100%. Getting into the club is the <i>only</i> hard part and everyone involved knows that.<p>Empirically, what&#x27;s required to get into the club is being wealthy enough to afford the private schooling, tutoring, and extra circular activities necessary to help your child game the admissions process.<p>As long as people value these prestigious brands, the elite will continue to buy them for their children. It&#x27;s got nothing to do with education itself, which could be obtained any number of ways already.