<p>I disagree. Applications went up by 70%; this is impossible to attribute simply to the city getting “hot.” I might give you a 20% percent increase over 5 years, but 70%? No; that was Furda’s marketing.</p>
<p>You may not know this, but Columbia was ranked around 16th in the 80’s and early 90’s. Yes, Harlem had something to do with this, but Harlem was arguably as bad in the 40’s-60’s, when Columbia was doing great. The ranking increased for 2 main reasons:
- The endowment did astoundingly well
- Quigley, Furda, et al. consolidated all facets of the admissions department, streamlined them technologically, and ran a wild marketing scheme in California and the midwest.</p>
<p>Furda realized early on that California and the midwest were key, and now he’s implementing that here. Soon every Kansan who applies to Harvard will be applying to Penn, as well; that was not the case previously.</p>
<p>I would guess that Furda can attract at least 3,500 more applicants, just domestically, and that would bring our acceptance rate to roughly 13.5%.</p>
<p>What you need to realize is that Penn has a significant ceiling. Even with its high yield rate (about 66%), it has a large class to fill: about 2400. This means that Penn has to admit around 3640 students to fill its class. If you wanted to get the acceptance rate down to 10%, you would have to convince 36,000 applicants to apply. That’s inconceivable. Cornell has the most applications of any Ivy League school, and even it only gets about 33,000; and that’s with 1,000 more students per class than Penn.</p>
<p>In other words, getting the numbers to where we want them will be hard work. It is doable, and it is likely that within 1-3 years, Penn will have a 13% acceptance rate.</p>
<p>Now, the final factor: financial aid. This is THE MOST important factor to having a low acceptance rate. An amazing financial aid system will raise the yield through the roof. Penn has realized this, and started down this path. If it maintains its commitment in all of the respects I have listed, we should easily remain among the most competitive schools in the nation.</p>
<p>Bottom line: don’t worry, and have faith in Furda. He definitely has a long term plan, and I am certain that it will pay off.</p>