Parents are paying consultants up to $750,000 to help get their kids into Ivy League colleges.
The six-figure outlay to get their kids into college adds to the increasingly prohibitive cost of attending those institutions.
Bloomberg reported that the cost of attending Ivy League schools — including tuition, accommodation, and fees — was pushing $90,000 a year, with four years of attendance potentially costing more than $300,000.
Consultants told the outlet that the increasing exclusivity of Ivy League attendance may work as its own status symbol for some parents, encouraging a bigger outlay on preparation.
While its generally accepted that Ivy League graduates have higher earning potential than their peers, it seems that Americans are increasingly discounting the value of having a college degree at all.