Everything you said is valid.
For the record, however, Maryland is a state that has the highest, or 2nd highest family income in the United States. Since Maryland pulls the majority of it's undergraduates from Maryland, it goes to reason that the majority of kids attending Maryland come from middle-to-upper income families. The data shows that only about 4,500 of UMCP's undergraduates receive any kind of financial aid.
I think if you were to compare the fiancial demographics of students attending PSU and Maryland, they would be similar. That is only a guess, however. Nevertheless, many of the states where Big Ten teams are located are not nearly as affluent, and consequently, I would also suspect family incomes are considerably lower. Does that make them any better? No it doesn't. But based on my own experiences with kids/students....money and humility are (often) inversely related. I went to a private boarding school in NE, and then later on to grad school at an Ivy League school. I met plenty of kids who's parents were well off (mine were not), and they knew it, and they flaunted it. Just a fact of life.