The majority of people don't go to expensive private college for the degree , as that is available cheaper elsewhere. They go for the feeling of elitism.
Some of the worst money wasting colleges are the scam trade schools like University of "Phoenix".
University of Phoenix was founded and is based in Phoenix, Arizona, so if you want to put scare quotes on a part of it, maybe "University" of Phoenix is the better way. ;-)
it's not a feeling - it's real. Connections with other highly connected (and rich) people will give you more opportunities that merit alone won't give you.
Some of the worst money wasting colleges are the scam trade schools like University of "Phoenix".