@sardonicsmile You must be talking about the upper middle class. Actual rich people usually own their businesses and college is mostly just a formality as their kids will inherit their parent's empires regardless of what diplomas they hold. Why start from scratch, after all. Still, it's good to diversify so the family doesn't depend on a single source of income.
Then you have the elites who see college mostly as a way to rub elbows with the powerful and gain access to their secret clubs.