One charge leveled at the D&K study is that they had a pretty expansive definition of “most selective colleges”. I believe it included HYPSM down to the CWRU tier. So it’s possible that there is a benefit to Ivies/equivalents (or HYPSM) for all that is swamped out. Though given the opportunity cost of compounded money/money for grad school (as well as major/skills driving earnings differentials to a greater extent than school attended in most cases), it’s still hard to justify a multiple 6-figure cost differential for undergrad (unless you have decently multiple millions so just don’t care that much).
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