Someone[1] commented on another, similar thread a while back that one important function of top private universities is to launder the educations of children of the rich—that is, to ensure that, provided they can put in enough effort to not fail out entirely, they'll have credentials that look very similar to those of only the smartest and most-driven students from the other 99% of society. I'd never looked at it that way, but it makes a lot of sense. Fits right in with your "who wants a CEO from Southern New Hampshire U?" notion.

In exchange, I suppose, the poorer students get to network with the people who may later fund their business.

[1] Don't remember who, so I can't provide credit