How do students at elite universities think about the economic and educational returns of their college education? Drawing on 29 interviews from first-year students at an elite university, I find that students think that attending an elite university will allow them to secure a high degree of social status, which they believe is integral to obtaining future professional opportunities. These students see the high status that they acquire through their association to an elite university as a safety net, which will enable them to maximize the economic and educational returns from their college education relative to their peers at less-selective universities which, in turn, solidifies internal and external perceptions of their elite identity. [The dissertation citations contained here are published with the permission of ProQuest LLC. Further reproduction is prohibited without permission. Copies of dissertations may be obtained by Telephone (800) 1-800-521-0600. Web page: http://www.proquest.com.bibliotheek.ehb.be/en-US/products/dissertations/individuals.shtml.]