The Ivy League schools have extensive financial aid now. Stanford for instance will have zero cost for people from families making $150k or less, no need for student loans.
The issue is that about 15% of every incoming class at Stanford is there through nepotism, not merit.
Looking back, that's not a bad life lesson to get into your system early. I think it's also important for those to not place too much of their worth in college and realize that there are many "Stanford qualified" students who don't get into Stanford for one reason or another.