While they worried about buying food and paying the rent, you "worked your ass off" doing homework in total safety and comfort.
But I was wrong. Poor kids who get into MIT ("Recipients of a Federal Pell Grant") only graduate at a rate of 87%. It's just the wealthy students with such incredibly high graduation rates.
OTOH, that sounds like a pretty darn good "intangible" to me and would certainly warrant further consideration in my book.
(a) If you are underprivileged, you might have time to volunteer somewhere, but typically supporting your family doesn't count as helping the underprivileged. Changing grandma's bedpans isn't volunteer work, and it's kind of exploitative to make that a major portion of your college application.
No, nobody at my school was doing this[1]. Top-tier schools leverage their massive endowments to provide substantial need-based financial aid. Basically their mission is to ensure, if you get in, that there is absolutely no financial friction to attend. In one high-profile instance Princeton University provided a full scholarship entirely from its own endowment to a formerly homeless undocumented immigrant who went on to become his class's salutatorian[2].
[1] except the cockroaches but that applied to everyone as many of the dorms were quite old.
I don't know that this is bad as such but the high end schools aren't exactly very good about educating large numbers of people. That is, very large endowments per student. Large state universities do much better in this area. Also large state universities do a better job of recruiting students outside of the top 0.1% of society.
As someone from a middle class background who went to a top-tier school, you have no idea what you are talking about. Sure, there were/are plenty of humanities majors who had relatively light workloads, but as an engineering major I worked my ass off 8 days/week.