One sees various efforts in developed as well as in developing economies to seek a greater participation of lower-income students in their nation's leading universities. Once lower-income students do enroll in a highly selective institution, what happens to them? How well do they do academically when compared to their more wealthy counterparts? How integrated are they into the academic community and in their satisfaction with their choice and sense of support by the institution and fellow students? These are crucial questions, if and when elite universities in various parts of the world become more representative of their general population; the stated desire of most of these institution, virtually all of which are nationally funded entities that must justify their public subsidies. This paper explores the divide between poor and rich students, first comparing a group of selective US institutions and their number and percentage of Pell Grant recipients and then, using institutional data and results from the University of California, Student Experience in the Research University Survey (SERU Survey), presenting an analysis of the high percentage of low-income undergraduate students within the University of California system; who they are, their academic performance and quality of their undergraduate experience. (Contains 5 figures and 6 tables.)