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Well, this is highly debateable. Yes, going to a better school might help make you a better person, but what constitutes a better school? Academically prestigious does not equal better. Better is what fits you overall, including academics. But I understand how in some cultures the only thing that is valued in this process is how well known the school is.
Not necessarily, it depends on the rules of the school and how they have things set up. Frankly, I am not even sure how those two things relate.</p>