dont be in the 60th to 99th percentile in income

Anonymous
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:“A large new study, released Monday, shows that it has not been because these children had more impressive grades on average or took harder classes. They tended to have higher SAT scores and finely honed résumés, and applied at a higher rate — but they were overrepresented even after accounting for those things.”


this is about the 0.1%. But to me that is not the interesting story. the interesting story, which the author of the article mostly ignores (she has one sentence) is that the 60-99% percentile is the loser.


Really? That's what you've taken from this. It's admission rates. The majority of applicants are going to be in the 60-99th percentile income range. Of course they are going to be accepted at a lower rate...there are more of them. If you look up the composition of college campuses, though, I'm sure you'll find that they make up the majority of students.


+1

Exactly! the majority of kids in the 5-50% range do not have T25 schools on their radar. They grow up with a plan to attend CC then transfer to a state school (for affordability), and if really lucky attend all 4 years at a state school if they can afford it. They are not obsessed with attending Elite schools, so they don't apply.


Except the article says they accounted for this, and these students are still disadvantaged:

Before this study, it was clear that colleges enrolled more rich students, but it was not known whether it was just because more applied. The new study showed that’s part of it: One-third of the difference in attendance rates was because middle-class students were somewhat less likely to apply or matriculate. But the bigger factor was that these colleges were more likely to accept the richest applicants.


One of you is talking about poor students, and one of you is talking about middle class students.

Poor students face many more barriers that prevent them from applying to top schools, or to have the scores needed to get to top schools. If they overcome those barriers, they are accepted at a slightly higher rate. That isn't some kind of preference, it's a recognition that overcoming poverty and gathering the credentials to apply is, in itself, an achievement to be recognized, so accepting them at a higher rate makes as much sense as accepting other students who have special achievements at a higher rate. Middle class and UMC students apply at higher rates, and so even though they are slightly less likely to be accepted than kids who have similar scores and the achievement of overcoming poverty, they are represented at a higher rate in the student body.

But rich kids are advantaged because they are rich, not because they did something particularly hard. Also their advantage on application isn't balanced by low acceptance rates, because they are both more likely to get the credentials to apply AND more likely to get in once they have the credentials, they make up a large percentage of the class.

The idea that you can compare the two groups or that there's any connection between the two in terms of privilege is absurd.


You may disagree, but it’s not “absurd” to believe that it is appropriate to accept students based purely on their qualifications and not their income level. Your argument assumes that lower income, MC/UMC, and wealthy students fall into separate “buckets,” and that it’s appropriate to accept a higher % of lower income applicants because *your reasons* but not wealthy students because *the college’s reasons.* That’s the problem with putting students in these buckets and setting up disparate acceptance criteria in the first place. Everyone is going to have different ideas about what is important and appropriate.
Anonymous
Anonymous wrote:btw non-recruited athletes get preferences too or higher admission, that was in the card analysis of data from the harvard trial


Why? Bc they need these for club sports?
Anonymous
Anonymous wrote:Try to understand the operational business model of a University college using student tuition as the revenue stream. Sure there are the endowment and research grants revenue streams, but focus on the Tuition line of business.

Tuition revenue from the high income family students is used to not only cover their tuition cost but also to cover the tuition cost of the other half of the student population from mid to low income families. So when a high income student pays, say $30k in full tuition, $15k goes to cover that student's instruction costs, and the other $15k goes to cover another qualified low income student in the form of financial aid. There is nothing to debate here: university needs full tuition paying students to exist as a business. In other words, low income merit students need the high income students to be enrolled and fully pay their tuition on time.

That said the challenge is finding high income students who are absolutely committed to staying the full four years as well as academically willing to put in the effort to satisfy the graduation requirements that are tied to the university ranking. This is no trivial challenge, finding high income students who are also studious. Here is where the legacy students come into the picture. Legacy students bring the emotional commitment to stick around for full four years paying full tuition and graduate with a degree. By offering admissions to studious legacy students, the university is making sure the lower income students have a reliable funding source to cover their tuition costs.


Exactly. Legacy (along with the “development list” or whatever the individual college calls it) is a way to appear to be complying with their commitment to be “need blind” without maintaining a certain % of full pay students. There is no way that these universities would maintain such a consistent, year in, year out balance between full pay and scholarship students without some sort of finger on the scale. It’s just not plausible.
Anonymous
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:hat said the challenge is finding high income students who are absolutely committed to staying the full four years as well as academically willing to put in the effort to satisfy the graduation requirements that are tied to the university ranking. This is no trivial challenge, finding high income students who are also studious.


That's not a challenge at all. The paper shows there are plenty of kids in the parental income 97-100% range who have high test scores and high GPA (i.e. they are studious). The trope that rich kids are lazy and stupid is simply false.


Nobody is implying rich kids are lazy and stupid.

From a university point of view, finding high income and studious is a challenge.


Except it isn't.

http://www.studentaidpolicy.com/who-pays-full-sticker-price-for-a-college-education.html

Look at the Ivy League schools - roughly 50% of freshmen pay full price. You will also note that in colleges with a <10% acceptance rate (the most selective) 47% of the freshmen pay full price. There are clearly a lot of high-income, studious kids. And I dare say if these institutions didn't make a point of admitting a certain number of low-income kids just for appearance's sake, those full-pay percentages would be even higher. Maybe even 100%.
Anonymous
Anonymous wrote:
Anonymous wrote:Try to understand the operational business model of a University college using student tuition as the revenue stream. Sure there are the endowment and research grants revenue streams, but focus on the Tuition line of business.

Tuition revenue from the high income family students is used to not only cover their tuition cost but also to cover the tuition cost of the other half of the student population from mid to low income families. So when a high income student pays, say $30k in full tuition, $15k goes to cover that student's instruction costs, and the other $15k goes to cover another qualified low income student in the form of financial aid. There is nothing to debate here: university needs full tuition paying students to exist as a business. In other words, low income merit students need the high income students to be enrolled and fully pay their tuition on time.

That said the challenge is finding high income students who are absolutely committed to staying the full four years as well as academically willing to put in the effort to satisfy the graduation requirements that are tied to the university ranking. This is no trivial challenge, finding high income students who are also studious. Here is where the legacy students come into the picture. Legacy students bring the emotional commitment to stick around for full four years paying full tuition and graduate with a degree. By offering admissions to studious legacy students, the university is making sure the lower income students have a reliable funding source to cover their tuition costs.


Exactly. Legacy (along with the “development list” or whatever the individual college calls it) is a way to appear to be complying with their commitment to be “need blind” without maintaining a certain % of full pay students. There is no way that these universities would maintain such a consistent, year in, year out balance between full pay and scholarship students without some sort of finger on the scale. It’s just not plausible.


Now I have heart it all. We have legacy admissions so that colleges can help poor people, amazing how people can justify things that benefit them!
Anonymous
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:If you were a gen x, boomer or elder millenial who attended a t10 school, how did you not get into top 1%

Like the well trodden path coupled with the greatest equity boom in the history of the market means that schools are right to give side eyes to alums who aren’t top 1% but also didn’t go into something like teaching at a school

Like if you are a gen x, and attended Penn (to use an example) - you have to really have been clueless or messed up not to be in the top .5%

You had access to top firms, then the bull market for 30 years would supercharged your financial position further




Can you please expound on what you are saying here keeping it tied to the data a little better? I don't think your logic makes a lot of sense but want to be sure.


So if I’m sitting at Penn in admission or development office, and I see larlo/larla are CAS ‘96 and didn’t come from family wealth - so obviously had to work — and now their kid is applying to Penn now but not in the top 1% — i would be puzzled as to what larlo/larla did with their Penn degree/opportunity given to them in the mid 90s

I would be concerned that this fam took an opportunity from someone else who would’ve better used their Penn degree



Fair point. If that’s what university priorities are, then yeah, I’d be concerned as well.
And not offer admission
Anonymous
Anonymous wrote:
Anonymous wrote:

Although the graph is interesting people are treating it like it’s some nefarious plot. There are far more students in the 60-99% income range applying to college than below 60%. And for the top 1%, there’s not that many of them and they apply mainly to the legacy institution, so of course they have a higher rate.

Basic statistics people…


I just looked it up and 15% of Harvards class is from the top 1%.

https://www.nytimes.com/interactive/projects/college-mobility/harvard-university
Anonymous
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:“A large new study, released Monday, shows that it has not been because these children had more impressive grades on average or took harder classes. They tended to have higher SAT scores and finely honed résumés, and applied at a higher rate — but they were overrepresented even after accounting for those things.”


this is about the 0.1%. But to me that is not the interesting story. the interesting story, which the author of the article mostly ignores (she has one sentence) is that the 60-99% percentile is the loser.


What? There’s a whole section titled “The Missing Middle Class” including the following paragraphs:


Children from middle- and upper-middle-class families — including those at public high schools in high-income neighborhoods — applied in large numbers. But they were, on an individual basis, less likely to be admitted than the richest or, to a lesser extent, poorest students with the same test scores. In that sense, the data confirms the feeling among many merely affluent parents that getting their children into elite colleges is increasingly difficult.

“We had these very skewed distributions of a whole lot of Pell kids and a whole lot of no-need kids, and the middle went missing,” said an Ivy League dean of admissions, who has seen the new data and spoke anonymously in order to talk openly about the process. “You’re not going to win a P.R. battle by saying you have X number of families making over $200,000 that qualify for financial aid.”


This is a point I'd wondered about previously. They have a finite pot of financial aid dollars, it's better optics to take one full need student than ten 10% need families, given those families make 200K. Not clear how that's achieved in a need blind school.
Anonymous
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:Try to understand the operational business model of a University college using student tuition as the revenue stream. Sure there are the endowment and research grants revenue streams, but focus on the Tuition line of business.

Tuition revenue from the high income family students is used to not only cover their tuition cost but also to cover the tuition cost of the other half of the student population from mid to low income families. So when a high income student pays, say $30k in full tuition, $15k goes to cover that student's instruction costs, and the other $15k goes to cover another qualified low income student in the form of financial aid. There is nothing to debate here: university needs full tuition paying students to exist as a business. In other words, low income merit students need the high income students to be enrolled and fully pay their tuition on time.

That said the challenge is finding high income students who are absolutely committed to staying the full four years as well as academically willing to put in the effort to satisfy the graduation requirements that are tied to the university ranking. This is no trivial challenge, finding high income students who are also studious. Here is where the legacy students come into the picture. Legacy students bring the emotional commitment to stick around for full four years paying full tuition and graduate with a degree. By offering admissions to studious legacy students, the university is making sure the lower income students have a reliable funding source to cover their tuition costs.


Exactly. Legacy (along with the “development list” or whatever the individual college calls it) is a way to appear to be complying with their commitment to be “need blind” without maintaining a certain % of full pay students. There is no way that these universities would maintain such a consistent, year in, year out balance between full pay and scholarship students without some sort of finger on the scale. It’s just not plausible.


Now I have heart it all. We have legacy admissions so that colleges can help poor people, amazing how people can justify things that benefit them!


No - that would be donor admissions.

Who do you really think is paying for your kid’s financial aid? Truthfully?
These are businesses - they need to look at income and expenses. Half of the kids don’t bring in ANY income…..hmmm.
How should they run the business then?

So many of you are clearly in government and have no business background whatsoever.
Anonymous
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:hat said the challenge is finding high income students who are absolutely committed to staying the full four years as well as academically willing to put in the effort to satisfy the graduation requirements that are tied to the university ranking. This is no trivial challenge, finding high income students who are also studious.


That's not a challenge at all. The paper shows there are plenty of kids in the parental income 97-100% range who have high test scores and high GPA (i.e. they are studious). The trope that rich kids are lazy and stupid is simply false.


Nobody is implying rich kids are lazy and stupid.

From a university point of view, finding high income and studious is a challenge.

Financial aid is the carrot the university offers to make a low income student to do one thing: 1) stay committed for full four years and graduate. Whereas the university is asking a high income student do two things: 1) go ask your parents or get a loan but pay full tuition 2) please stay here for four years and put in the effort to graduate. Within the high income student pool, the legacy students bring in the additional attribute of emotional commitment which may or may not be present in a random high income student.

If these colleges weren't so stupidly expensive, then they wouldn't have to worry about #2. UMC could afford full pay without loans if they lowered the cost, but like expensive cars, the colleges like to keep it expensive to create a "in the club" experience.


why shouldn't a for profit university raise prices if it can still keep demand?

Apple's iPhone is celebrated as an all American business success every time it raises prices, and everyone - high income as well as low income happily pay $1400+ for owning it over time. Same with other branded luxuries, resort vacations, etc... As long as everyone pays the same, no one complains. Imagine what would happen if Apple changes its phone sales to something like half of their phone purchases to lower half will be funded by the upper half based on family income, color of their skin or some other social factor?



The colleges mentioned in the article are NONprofits with tremendous tax benefits although they act like for-profits.


they are nonprofit, but Private. all non-profit means profits made should be reinvested back into the college. There is no law that says non-profits should not maximize profits.

Sure, but all this talk of "oh we have to charge that much so that we can cover the non rich kids" is BS. If they lowered the costs, more people could afford to pay for it without taking out stupid sized loans.
Anonymous
This makes no sense. As if you could control being between 90-600k

If you’re making 130k, you’re not dropping your income to 90. And believe me, everybody is making some attempt at 600+. If they could do it, they would.
Anonymous
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:

Although the graph is interesting people are treating it like it’s some nefarious plot. There are far more students in the 60-99% income range applying to college than below 60%. And for the top 1%, there’s not that many of them and they apply mainly to the legacy institution, so of course they have a higher rate.

Basic statistics people…


I just looked it up and 15% of Harvards class is from the top 1%.

https://www.nytimes.com/interactive/projects/college-mobility/harvard-university


That also says that 52% of Harvard students are between 80 and 99th %ile and 4.5% are between 0 and 20th. But somehow DCUM's take away is that the people in the 80th %ile are disadvantaged over the poor people.
Anonymous
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:

Although the graph is interesting people are treating it like it’s some nefarious plot. There are far more students in the 60-99% income range applying to college than below 60%. And for the top 1%, there’s not that many of them and they apply mainly to the legacy institution, so of course they have a higher rate.

Basic statistics people…


I just looked it up and 15% of Harvards class is from the top 1%.

https://www.nytimes.com/interactive/projects/college-mobility/harvard-university


That also says that 52% of Harvard students are between 80 and 99th %ile and 4.5% are between 0 and 20th. But somehow DCUM's take away is that the people in the 80th %ile are disadvantaged over the poor people.


Ha. So true.
Anonymous
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:If you were a gen x, boomer or elder millenial who attended a t10 school, how did you not get into top 1%

Like the well trodden path coupled with the greatest equity boom in the history of the market means that schools are right to give side eyes to alums who aren’t top 1% but also didn’t go into something like teaching at a school

Like if you are a gen x, and attended Penn (to use an example) - you have to really have been clueless or messed up not to be in the top .5%

You had access to top firms, then the bull market for 30 years would supercharged your financial position further




Can you please expound on what you are saying here keeping it tied to the data a little better? I don't think your logic makes a lot of sense but want to be sure.


So if I’m sitting at Penn in admission or development office, and I see larlo/larla are CAS ‘96 and didn’t come from family wealth - so obviously had to work — and now their kid is applying to Penn now but not in the top 1% — i would be puzzled as to what larlo/larla did with their Penn degree/opportunity given to them in the mid 90s

I would be concerned that this fam took an opportunity from someone else who would’ve better used their Penn degree



Fair point. If that’s what university priorities are, then yeah, I’d be concerned as well.
And not offer admission


Do you think then ivies judge their legacies differently? Meaning if not high earning etc, then they were “wasted”?

Maybe you are right but no one has ever said that.
Anonymous
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:

Although the graph is interesting people are treating it like it’s some nefarious plot. There are far more students in the 60-99% income range applying to college than below 60%. And for the top 1%, there’s not that many of them and they apply mainly to the legacy institution, so of course they have a higher rate.

Basic statistics people…


I just looked it up and 15% of Harvards class is from the top 1%.

https://www.nytimes.com/interactive/projects/college-mobility/harvard-university


That also says that 52% of Harvard students are between 80 and 99th %ile and 4.5% are between 0 and 20th. But somehow DCUM's take away is that the people in the 80th %ile are disadvantaged over the poor people.


Agreed. I honestly don’t think the slight bias towards poorer students is a bad thing; the opposite actually. I do think that the massive bias for the top 1% is a disgrace.
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