Admission to an Ivy League college or a similarly elite institution like MIT is often seen as a golden ticket offering entry into academic institutions that have collectively produced more than 4 in 10 U.S. presidents and 1 in 8 CEOs of Fortune 500 companies.
"It's a very broadly held position that your opportunities in life shouldn't depend on the circumstances of your birth, and in some sense that's the core of the American dream," noted John Friedman, an economics professor at Brown University and a co-author of the paper.
About 40% of students from the richest families who scored at the 99th percentile on the SAT or ACT class attend an Ivy-plus college, compared with 20% of students with the same scores who come from the poorest U.S. families. Among middle-class students who have the same top SAT or ACT scores, only about 10% attend an Ivy-plus college, the analysis found.
Students in the middle of the income distribution are"having kind of the least opportunities to rise to these leadership positions, [when] comparing students with similar academic credentials," he added.The impact of getting an elite education can be significant in a student's trajectory after college, the researchers noted.
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