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You say this based on what? There are surely exceptions, but I see the opposite happening.
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I see a lot of well-heeled folk whose kids took the prep school route going to big state schools, and a lot of southern schools. Idk why. These people can afford the freight for private colleges in the NE.
I think it comes down to hiring afterward. You can go to a fancy school and get a liberal arts degree and you're still only as hireable as a kid who went to a state school and has a STEM degree.
(That stuff about hedge funds, PE, and banks wanting liberal arts majors to create a more well-rounded workforce is BS. First, they're trying to eliminate everyone they can with AI. Second, the English major from Haverford is only getting hired at a fund because he's Greenwich money and his uncle is in the Senate.)
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Overall enrollment is down relative to a few years ago, so less prestigious schools are seeing the effects. But that doesn't mean they are turning people away whom they would have taken.
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YMMV, but big state schools like MD, PSU, OSU, and MI have become far more competitive in recent years.
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Well, we do have USC out here.
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I think the NE/Mid-Atlantic is dusty, and backward. Sclerotic. Galloway is a good example. Guy went to UCLA, had middle of pack grades, and went on to make a fortune. Here, there's still a bizarre class thing about undergrad. I went to a private HS and college. If someone asks me about them, I immediately assume that person is a jackass. If someone tells me, "Oh, well, he went to [insert school]" as if I should be impressed, I immediately register that person as a dimwit.
YMMV, but the older I get, the more I realize my old man was right about school. "It's a badge. Advertising." I see little difference in terms of life outcome between the friends I know from college and HS and those I know who went to public HS and state universities. The NE's fixation on school is social climbing nonsense.
But, if one gets into an Ivy, he still must go. The free marketing that provides for the rest of life is just too good to reject.
