Elite colleges are far more diverse than elite employers. Google, Facebook, Goldman Sachs, and McKinsey are dominated by whites and Asians, especially outside of entry-level jobs.

I also don't buy the idea that college is a way to teach people how to live in the real world, given that going to college is an alternative to working in the real world. That just sounds like the sort of thing college administrators would say in order to defend the status quo.