@knight_commander In the US, most colleges, perhaps all, consider it part of their mission to improve society overall. To educate 'the masses", especially those talented students who come from families that didn’t have the opportunity for higher learning. If you poke around the mission statements of most any college, you will see this stated in various ways.
In practice most selective colleges have far more children from wealthy and/or educated families than not, but they try to reach all, with varying levels of commitment and success.