Why rich people prefer elite schools when most others doesn’t see any wort in it?

[ucbalumnus]

@observer12

I always assumed medical school admission was numbers driven. I thought a student with a 4.0 from a state university and very high MCAT scores would have a very good shot over a student with a 3.6 average from an elite university. Is that not the case? (I did assume that if both students had 3.7 averages and same MCAT scores, than the name brand of the university would matter more.)

The usual assumption with medical school admissions is that there is an automated screen by college GPA (overall and BCPM) and MCAT score to see which applications move on to human readers, who then read the application holistically to decide whom to prioritize for interviews. Based on threads in the pre-med forum, the effect on undergraduate college prestige on human readers is not that great.
http://talk.collegeconfidential.com/discussion/comment/22089350/#Comment_22089350