<p>redbluegoldgreen,</p>
<p>As top prep schools routinely reject hundreds of qualified students every year, it is probably safe to assume that the full pay students they accept are qualified or at least almost always qualified, as there are usually limited exceptions to every general rule. However, the fact that these full pay students are qualified does not address the question of whether and to what extent they had a competitive advantage over equally or more qualified financial aid applicants. </p>
<p>I dont pretend to have a definitive answer for this question since admission decisions appear to result from a black box process that is more an art than a science. Nevertheless, I do wonder whether we might be able to hazard a working hypothesis to explain what you have described as the Rich Kid Theory. </p>
<p>To that end, I propose that we engage in a thought experiment. Lets take two hypothetical applicants who are applying to the same highly competitive need-aware prep schools. Lets assume that each of these boarding schools has an admission rate of less than 20% and offers generous, but not unlimited, financial aid. Lets also assume that each candidate is equally qualified in every way (e.g., comparable grades, test scores, extracurricular activities, hooks, essays, interviews, etc.) except that one requires financial aid and the other is a full pay student. </p>
<p>My guess is that the full pay and financial aid applicants are on an equal playing field if they are either slam-dunk admits or clear-cut denies. Hence, a slam-dunk admit at the pinnacle of the applicant pool will likely be admitted to one or more of these schools regardless of whether he is a financial aid or a full pay student. Likewise, a clear-cut deny at the other end of the admission spectrum will almost certainly be rejected by all of these highly competitive schools without reference to whether he is a financial aid or full pay applicant. </p>
<p>However, I suspect that matters become considerably more problematic for financial aid applicants who are clear-cut or border-line admits. That is, applicants who are in the middle 50% or lower 25% of admitted students. Hence, cant we all contemplate circumstances where a need-aware school, concerned about its financial aid budget, might reject or wait list a financial aid applicant who is a clear-cut or border-line admit in favor of a comparable or less qualified full pay applicant? And cant we also envision how a financial aid applicant might be passed over on the waiting list for a comparable or less qualified full pay student by a school that has exhausted its financial aid budget?</p>
<p>Given the foregoing, can we posit the following two working hypotheses for the Rich Kid’s Theory?</p>
<ol>
<li><p>A financial aid applicant is not at a competitive disadvantage to a comparably qualified full pay applicant at a need aware school if each is a slam-dunk admit or clear cut deny.</p></li>
<li><p>A financial aid applicant may be at a competitive disadvantage to a comparable or less qualified full pay applicant at a need aware school if each is a border line or clear-cut admit.</p></li>
</ol>