Most wealthy American families spend less than $1,000 to help children get into a college of their choice, not including extracurricular activities and academic assistance. investinyou (In partnership with acorns.)
Key Points
Encouraging extracurricular activities, athletics and arts are the most popular tactics the rich say they use, but these are also associated with social and economic advantage. Just how far and how wide do these tactics extend throughout the corridors of affluence in America? There is good and bad news from a new CNBC survey of America's millionaire population. Many wealthy Americans remain sane when it comes to helping their kids get into a good university or college, spending relatively small sums of money on the effort. But the signs of privilege in accessing elite educational opportunities are reflected in the results.
The most common effort made was not spending on SAT or ACT test prep and tutoring, but encouraging children to participate in athletics, arts or extracurricular activities.
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