Just chiming in with my obviously biased opinion that if a kid can use baseball to gain admittance to an Ivy, unless Stanford calls, the jobs available to these graduates - in every field (art history, finance, banking, consulting, engineering, etc.) are plentiful and starting salaries are well over the COA. (In fact, companies of which I am aware pay these graduates premiums (in bonus and annual salary) when compared to their non-Ivy cohort AT THE SAME COMPANY.)
(Now, if my kid was absolutely, positively, heading to med school, I would say DO NOT go to an Ivy because med school's want a high GPA - a more difficult task to accomplish at an Ivy because of the competition. But keep in mind that the majority of kids change their preliminary choice major, so locking in too early can lead to eliminating viable options.)
As a real world example, D (non-athlete) turned down a 25k (with more possible) scholarship to Miami. Her major remained Chem. E - but she picked up a finance "minor" along the way. She will be heading to Goldman Sachs after graduation - a career path no one expected and which would not have been available from Miami (but which would have been 100k cheaper over 4 years). She will make up that difference - and more - during her three year contract period with GS.
Yes, we reduced our standard of living and dipped into savings (even though we got FA); but, the kids have no loans and are given a pretty significant head start on the hamster wheel of life. While every decision is personal and has unique variables, while we could have found cheaper options for the athlete and non-athlete, the result speaks for itself - two employed kids, earning enough to live well and without any parental financial support, with access to an alumni network almost without peer.