First off, getting into famous, highly ranked schools will only become more difficult in future years. Simple arithmetic: demand vastly outstrips supply.
Even at Princeton where "legacy" kids with a family name and fortune will find it difficult for the same reason as above. So what do parents do? Interesting report from Princeton here indicates an inevitable result. As in politics, donors hedge their bets by giving $$ to opposing political parties, now parents give money to a number of desirable colleges other than their own alma mater to increase the chances of admissions of their talented children.
Colleges, mostly strapped for money, will also find donations desirable and yet constraining. You cannot keep taking money from donors without taking care of their children.
This begs the obvious question: what are those colleges going to do with poor but talented students?