Earlier quoted context omitted.
Yeah, it feels more like they're getting punished for getting a discount and not giving the universities the bribe directly (likely because the actual 'fee' for getting your kid in is more than they could afford). I was similarly bothered by this, and by the fact that nobody was worried that these students would fail out given that they cheated their way in. Says a lot about the actual signalling value vs. educationa…
“ I was similarly bothered by this, and by the fact that nobody was worried that these students would fail out given that they cheated their way in.” You would be surprised at how difficult it is to fail out of programs. From what I’ve seen profs have an unwritten rule to not fail students from school admin, otherwise they might complain and so it’s easier to give a D than fail them completely.
While you do get some education, I'd argue the majority of the value is the signalling the institutions provide by being selective.
It's about forcing scarcity for social status.