Many of the college predictive analytic models used by admission offices are designed to identify students who will matriculate. So, at schools that use these tools, applicants are put thru the model before final admission decisions are made. Simply said, schools want to offer admission to students who will attend.
Of course, the school constructs the model to include variables (and their relative weightings) that they believe are predictive of success.The schools have a great deal of data on each student, gleaned and/or purchased from many sources, as discussed in many other CC threads. Many firms (including ACT and collegeboard) offer predictive analytic consulting services, some schools use privately developed models.