I went to Stanford. I love my undergrad. But I also have faced plenty of rejection and adversity on the way and since graduating. What matters is how you respond to that rejection, which is what the struggle to earn admission reflects. Having your parents bail you out means you will never learn those lessons.
But I'm more curious as to the people that can't get into Stanford and have to go to lesser schools like I did - what exactly are we to do? It's pretty clear that our outcomes are not going to be as good by any means, and it seems like political correctness limits any discussion of that.
I didn't get into Stanford (or anything like that, best I did was UNC in-state) - what exactly are my options here? It seems to me what you just said only applies to my intellectual superiors who are choosing between Stanford and UC Irvine, not the people that go to UC Irvine or Santa Cruz or Merced because they couldn't get into Berkeley or Stanford (who make up the majority of the country).
The fact is that people have this weird idea that college doesn't matter come from a position of immense privilege that someone like me doesn't even have the capacity to fathom. Of course it matters - being a Cardinal is a life-long thing, but being a member of the Wolfpack is more of a temporary embarrassment at best.
Maybe, but getting into an elite college is a very strong signal that can act as a multiplier for every other character trait.
Having drive and intelligence is great. Having drive and intelligence, and getting into Stanford, is life-changing.
In most cases yes. But when we're talking about elite colleges, it has significant bearing. Living in the dorm with a future CEO may be helpful in your future job search, and if you go to an elite college, you have a much better chance of having done that.
Going to Stanford or Berkeley or MIT or UW and doing CS there will mean that when you graduate, a whole lot of hiring managers will see that you attended the same college they did and give you an automatic boost.
And if you go to USC film school, you're pretty much guaranteed to know someone who will one day be very successful in the film industry and will help you get jobs or connections to have your own projects produced. Heck, the school does that for you.
So yeah, in most cases it doesn't matter, but in some very specific cases it does.