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Why do so many try for Harvard?

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I can't understand why so many talented teens try for Harvard- I get that they have the finest professors and best peer group, but why would brilliant individuals decide to go to a top school and become middle of the pack? Won't going to a not-so-good school, where you'll have a better class rank, be much better? Studies show that people can thrive and succeed only when they feel good about themselves. A person has to be seriously brilliant if they want to be the best at Harvard. On top of everything else, if a person doesn't get financial aid and applies for a loan instead, by the time they graduate they'll have a huge debt to pay off. Won't a slightly lower ranked state college be a much better option?- where a great individual will thrive, not incur any debts, remain top of the pack, and altogether have a higher self-esteem? So my q- why do people make it their life goal to go to the best of the best, when they may not even do that well once they start college?

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