Good for you! Want a gold star?
Anecdote is not data. Graduates from many prestigious schools in general have better outcomes. Highly motivated people can generally get ahead anywhere -- if you're such a highly motivated person, then it's not surprising that you did well in life, regardless of where you got your degree, or whether you even had a college degree AT ALL.
Well, you might have a point if you were talking about some random expensive second-rate private college. But the schools brought up in the summary like the Ivies and your chosen example of MIT have incredibly generous financial aid packages that are generally entirely need-based.
Some facts from MIT's financial aid info:
-- 72% of undergraduates receive either a need-based or merit-based scholarship.
-- 41% of undergraduates have student loan debt at graduation, and the average debt at graduation is $17,900. The median debt for all undergraduate financial aid recipients who graduated in 2013 was $10,948.
For a school that estimates its ANNUAL tuition and fees now come to over $60,000/year (with 4-year cost in the $250,000 range), coming out with just over $10,000 in debt is pretty darn miniscule, I'd say. And that's less than the cost of ONE YEAR of college at many state universities these days. (Lest you think that these numbers are skewed because everyone comes from rich families, note also that at least 1/3 of MIT graduates come from familes with annual incomes of less than $75,000.)
So, sorry -- if you actually get into and graduate from MIT, chances are your debt levels are going to be at the levels of many state university graduates, perhaps lower.
(Note that MIT and the Ivies can do this because they have big endowments. Your argument would be better targeted at lesser private universities that change $50+k/year and don't have the resources to give such generous aid.)
Besides, you are surrounded by "normal" people, if there is such a thing. If you surround yourself with abnormal people you never learn to deal with the rest of the world. Which amounts to a bad education.
Meh. You have a point, I suppose. But there are many, many years and daily opportunities to learn to socialize with people who aren't as smart as you ("normal" people). Even if you go to a place like MIT, you can easily find plenty of opportunities to deal with "normal" people while you're there -- go outside your down, volunteer, join some non-university social groups, become active in local politics or non-profit organizations... whatever. Build up your resume AND learn to deal with "normal" people, all while going to a top-tier school -- what a concept!
However, there are far fewer opportunities to surround yourself with incredibly smart people to get a high-quality education. Not to mention that it's useful to get this training while you're young and your brain is still more malleable. And unless you end up at some really top-tier company, chances are you're not going to be challenged intellectually by those around you.
Sure, it's definitely possible for a well-motivated student to get a great education elsewhere and to do great things in life. But if you have the opportunity to attend a top school with decent financial aid rules, there are few downsides to it, contrary to your implications.