I asked my daughter about this since her school (which is private and “respected” in academic circles but not necessarily “prestigious” or “elite”) does have tiered pricing for upper-classmen dorms and most students live on campus all four years. All freshmen live in “standard” dorms. The apartment-style dorms that some upper-classmen live in are more expensive than the basic dorms, but having a kitchen means that most also purchase more limited dining plans when they make that move. The housing lottery, rather than ability to pay, determines who gets into the newer dorms. Most of Greek housing is also on dorm-floors rather than special housing.
The campus culture also seems to frown on obvious flaunting of wealth or conspicuous consumption, but whether that is a reflection of the housing options or a more general campus atmosphere, I’m not sure. There are other things that seem to help decrease the obvious gaps between those with lots to spend and those with less. It is assumed that students will have some sort of campus research or TA job during the year and internships in the summer. They also make study abroad very affordable so that isn’t a differentiator either. I’ll admit the focus on academics and long winters in a town not known for nightlife is probably also a leveler in terms of haves and have-nots.
Are kids aware that some people have more financial resources than others? Of course. But, based on D’s friends, that doesn’t really have much effect on friendship groups.