Should private institutions of higher learning be recognised by corporates ?

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Private Institutes and Universites are running high-end programmes on self-supporting channels (no subsidy for governments) in certain countries. Here students have to pay a very high fee for their programmes. But, intelligent students who cannot bear that exependiture cannot get admittted in those schools. There are two things happening here: (i) academically deserving students (who are poor) are not getting their due and to that extent world is becoming poorer intellectually, (ii) students with less academic talents are getting into high-tech domains and going by the saying "half knowledge is dangerous", is it not detrimental in the long run ? What should be the stand of the coporates on this ?