<p>You know what, scarletleavy, I agree with you. After reading, "A is For Admission", I've realized that competitive schools MUST admit some applicants b/c of monetary contribution as well as legacies. The applicants admitted for money are called "development" cases. These applicants are important because this is where these schools get much of the money they need to refine their resources, etc.
This is what the author of "A is For Admission" had to say about it, "I'd argue that that development cases make up such a small number that, yes, they do help the institution. It's not a big deal to accept one weak student if the other 4,200 students can enjoy a better library, for example..."
And about the legacies: these are admitted b/c it fosters loyalty to the school. This loyalty is essential for schools to continue running smoothly. Michelle A. Hernandez (the author) says, "Keep in mind that legacies are not accepted because of their potential as full-paying students - the Ivies are completely need-blind in terms of financial aid. It is the long-term gain, not the short-term gain, of building loyalty to the institution. Accepting legacies is one of the most effective ways to accomplish this task."
I, personally, am I minority student. By no means am I advocating 100% on behalf of snobby rich brats out there whose parents pull strings for them to get in wherever they want (by flashing their pretty checkbooks). Not at all!! I only agree that such admissions are necessary for the well-being of the institutions and ultimately, the incoming classes. I recommend, if you already haven't, for you to go and get a copy of "A is For Admission" b/c the author does a great job with clarifying the entire admissions process. Yes, admissions seems unfair, but with this book, you'll feel a lot better about the whole thing. Good luck to all my Harvard EAers out there!!!!!</p>
<p>-Jon :)</p>