My son and I visited MIT a number of years ago when he was in the process of choosing a college. He refused to even apply for two reasons. One is that he read on one of those college ranking places that 50% of accepted students scored a perfect 800 on their math SATs. (That was perfect before they inflated the scores in more recent years.) He only scored 793 and thought he would be inferior! (Driving back from the exam site he actually had an "aha" moment and realized that one problem he got wrong and wondered if he could go back and change it!)
The other reason he didn't apply is that when we went for a site visit we sat in a huge rotunda waiting for the tour to begin. It was like a crossroads where students coming to and from lunch and to and from classes passed through. He noticed that except for a few girls, most of the students walked alone. He put that observation together with the many presentations we heard that day stressing the point that students are not competitors. They're a team, they're the best, they all got into MIT, and they share that special status and love and cooperate with one another. He just couldn't match the words with what he saw. And the words were almost overemphasized, like the lady doth protest too much. He just couldn't buy it.
He ended up at Carnegie Mellon, which is ranked right up there with MIT. He excelled, graduated with multiple honors, immediately got a high-paying job, and now just a few years later makes more than his parents put together ever made. And he loves his work as an engineer. What more could anyone ask for their child? And we're sure he'll be able to support us in our old age.
When you visit the campus, just be sure your son is comfortable there. Prestige means nothing if it's not the right match for him.