<p>My sense, honestly, from the past few years of reading threads on this board and on the financial aid board is that the GC’s are woefully unprepared to advise kids, and this is, at times, the unfortunate outcome.</p>
<p>Kids are told, “don’t worry about the money, just shoot for the best school! The money will be there,” and are stuck with great acceptances they can’t afford, or at borrowing levels nobody would consider, as an adult, to be “the money being there.”</p>
<p>But, also, I think very bright kids are advised to apply to so many reaches partially because their GC’s have no real understanding of how this system works, today.</p>
<p>I don’t think it is the “fault” of the 17 year olds, nor do I think the one’s who are better advised by more educated parents and GC’s are more qualified (though some really, really are), I think it is a “system” that has changed significantly with the influx of the echo-boomers and the technology, and even the colleges, themselves, are confused, and using increasingly large waitlists.</p>
<p>whether or not it is a “complete” lottery system, the fact, stated by the schools themselves, is that they could very easily fill another class or more with all of the qualified applicants they turn down, which also explains the size of the waitlists and why Harvard and Princeton went back to SCEA this year. Even they were feeling a need to get more certainty over yield, even at 6% acceptance rates. </p>
<p>Right now, it is quite easy for a kid to end up with a pile of rejections, imho. When the echo-boomers have all gone through school, acceptance rates will rise, again. This is a very big generation.</p>