The biggest apple/orange problem with OPs comparison is that in a university, there is a competitive admission process. Universities are planned, elite communities. You can't do that in a city. "Oh sorry NYC is now for people with 1400+ SAT only, sorry buddy, you're gonna have to go to Detroit."
I guess you can price people out, but that does not really have the same effect as the psychometric screening that universities do.
I guess you can price people out, but that does not really have the same effect as the psychometric screening that universities do.