What do you base this on? What about people who went to higher-ranked schools that regret having 100k+ in debt when they graduate. College helps you get your first job, but after that I don't think anyone cares in most fields (true in engineering from my experience, as long as you have a technical degree and even then you can get by). A lot of the difference in outcomes is selection bias. You should look to see how someone who got in a selective school but didn't go compares to someone who got in and went. I've read that the differences are not that stark.
> You will make a lot of life-long friends in college, and you will just be exposed to a different caliber of person on average at mit.
I don't know. I went to a mid-tier state school and my friends were just people I happened to be lumped together in housing. Is it "optimal"? No, but I enjoyed it. My friend crew consisted of a stoner, a very religious dude, a meat head and a Brooklyn hipster. I don't know, I liked it like that. None of them really taught me anything (wtf does an 18 year old know), but it might be different in technical fields. Both have trade offs.
> On the other hand, I think the differences in career outcomes on average are small, although I wouldn’t be surprised if the probability of starting a company with any given level of success x is 10 times higher for mit alum than Z school alums
It'll probably help you raise money, but I think being ex-[FAANG] would be better at least now. And raising money is not the same as starting and running a successful business. FAANG has considerably broadened their outreach and hire outside of top schools. I have a non-technical degree from a mid-tier state school and interviewed with a few FAANGs, more than once.
> In my opinion, the lifetime of friends and network effects is most of the benefit, and not to be underestimated. You only live once.
From what the author stated, I think he would have more experiences from going to school Z with his friends and family. Unless he really wants to get away from everyone, which doesn't sound like the case.