In the United States (U.S.), attending and graduating from college has been positioned as necessary for individuals to get a good job, earn a high salary, and be successful in life (Ashby-King & Anderson, 2022). However, not every college degree seems to be created equal as graduates of elite (i.e., highly selective, well resourced, highly ranked, prestigious) institutions have been found to experience an increased return on investment in comparison to their peers at less selective institutions (Ge et al., 2022). Colleges and universities then compete to increase their ranking and decrease the percentage of students they admit trying to gain prestige and symbolic capital in the marketplace of U.S. higher education (Blackmore, 2018; Brewer et al., 2002). As not every institution can be highly ranked, in addition to engaging in prestige-seeking behaviors, they also use communication and public relations practices to communicatively construct themselves as prestigious. Thus, I suggest that it is important to examine and understand how institutions are constructed as prestigious and how students interpret said constructions as they seek to gain capital themselves by attending college and earning a degree. As determinations of what is deemed worthy capital in different fields creates the social structures that exist in said field, I took a critical public relations approach to examining this problem to understand how communicative constructions of prestige reinforce and/or challenge dominant ideologies—especially neoliberalism and whiteness. In this dissertation, I conducted a two-part qualitative study that included a textual analysis of articles related to prestige and rankings published in two media outlets and in-depth interviews and a follow-up questionnaire with currently enrolled college students. Based on my critical thematic analysis, I argue that discourses of institutional prestige functioned to reinforce the notion that higher education is a marketplace by focusing on competition, hierarchy, and exclusivity. As students interpreted these discourses, they were less focused on institutional prestige and more concerned with the social capital they would gain from an institution that would help them get good jobs post-graduation. Throughout this process, when interpreting institutional communication college students did not always trust the institutions. Therefore, they sought additional information from social media and their networks and interpreted said institutional communication in relation to other texts and discourses. Through this project, I advance theory by (1) emphasizing the agency individuals and publics have when they communicate with organizations; (2) theorize public relations as a vehicle for communicating the social and cultural capital an organization can offer publics; and (3) reinforce the ways discourses of institutional prestige function to reinforce neoliberalism and whiteness. I conclude by offering practical implications to inform public relations and communication practice within and beyond the context of higher education.