People from all over the world like to come to the U.S. to study. Partly because our streets are paved with gold and we are the Land Of The Free, but mostly because a degree from Harvard or MIT or Stanford or whatever is like a medal of honor.

They miss the point, of course. The whole thing about Harvard and the other Ivy League schools (and I assume similarly prestigious schools in other countries) is that you make contacts that will be valuable in later life. You might not learn much economics, but having a room-mate who is destined to be the Secretary of the Treasury in 30 years' time is a huge advantage.

And the problem for the foreign students is that they are, well, foreign. To fit in at Harvard/Yale/Princeton/etc. you need to have gone to the right prep school first. And have gone to the right church, and been in the right yacht club as a young tyke. The Chatham Yacht Club on Cape Cod is not a bad place to start... You will have of course arranged to have a grandfather on the nomination committee...