Oh, if a paper from 40 freaking years ago says I'm wrong, I must be wrong.
Have you and your fellow parent cheerleader been paying attention to the changes in the med school admissions landscape since 1983????? If not, I'm sure you'll be in for quite a shock when you learn who is going to be your kids' classmates, wherever they end up.
Being poor (or frugal) and unable (or unwilling) to pay for a wardrobe from Neiman Marcus or Brooks Brothers in no longer a sin.