Is it Really Worth Pay Millions of Dollars to Get your Child in a Prestigious University?

By: Jarrod Horton

Staff Writer

More information is coming out regarding the college scam that involved rich parents paying for their kids to get into prestigious universities. A former president of a California real estate firm and his wife pleaded guilty to trying to use their money to improperly get their children enrolled in top universities.  Bruce Isackson, 62, and Davina Isackson, 55, are being convicted for conspiracy to commit mail fraud and honest services mail fraud. Bruce Isackson also will be charged with money laundering conspiracy and conspiracy to defraud the IRS for taking a tax deduction for the bribe.

Even though there were a lot of influential families, including celebrity actress Lori Loughlin involved in the scam, the most expensive bribes came from parents in China. According to the Los Angeles Times, the family of Chinese student allegedly paid $6.5 million to get her in Stanford. The next highest payment was also from a Chinese family who allegedly paid $1.2 million dollars.

With that much money being paid for these students to go to school; the question is it worth it? Are these parents paying this much money because they feel it will help their children? Or are they doing it for bragging rights? What do you think? Leave your comments below.