Is Admission to an Ivy League School Worth $2 Million?

Widener Library on the Harvard University campus in Cambridge, Massachusetts Photograph by Michael Fein/Bloomberg

How much is an Ivy League degree worth? For some, far more than the roughly $60,000 per year that covers tuition, room and board, and overpriced textbooks. If you’re Hong Kong parents Gerald and Lily Chow, the figure is more like $2 million, which is what they paid to a college consultant to help their two boys get into “top universities” in the U.S., according to court documents (PDF). They now are suing the consultant, Mark Zimny, and his Cambridge (Mass.)-based company IvyAdmit Consulting Associates. The Chows allege, among other things, fraud and misuse of funds, and Zimny denies wrongdoing. As the Boston Globe reports, the sons did find their way to “top universities.”

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