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Duane Stiller's avatar

I’ll offer another hypothesis on the motives for college admissions which has been put forth by other well before me. Tuition at elite college covers less than 1/3 of the operating costs. The interest /gains from the endowment covers about half the costs. The balance is covered by “annual fund” donations most of which are large $100k+ gifts that come from about 400 individuals in any one year.

Now to make a $100k+ annual gift one needs a least $1M of annual income. There a very few people that earn at that level. My guess is a typical elite college produces around 10 such individuals per year. Most elite colleges admit approximately 10,000 students per year and like a VC firm they in effect are making bets at 1:1000 in the hopes of creating a handful of loyal $1M+ earners in order to stay alive from their future generosity.

They are well aware of this reality but it verboten to discuss. The administration knows it has some leeway on the 10,000 new matriculants, but there are limits to how many subpar candidates they can accept to meet their woke commitments for diversity and inclusion. Serving the alumni donors that give large sums also obligates the universities to admit their children when possible. Additionally, the hope is that the offspring of the wealthy will themselves be wealthy and make large future gifts.

So, the motivation of elite universities for a admissions is to make 1000:1 VC like bets In order to survive. It’s purely economical.

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Occam’s Machete's avatar

Absence of evidence frequently is evidence of absence. Correlation is frequently causation too.

The trick is having reasonable conclusions from available evidence and the lack of expected evidence.

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