<p>"However, we have no confidence in our ability to distinguish among students in that group, and we can still only accept about a third of them. We don't stop trying -- we take it very seriously, and spend a lot of time on it. But if you took the class we admit and replaced it with our waiting list, no one but their parents would notice any difference." When you cut through it, he's saying the same thing as Schwartz, except he doesn't want to argue his job out of existence."</p>
<p>Except that he's lying. The overall student pool might look the same, but the development office would be up in arms at losing multi-million-dollar contributions, as would the regularly contributing alumni, the orchestra director would like resign, the football team would regularly lose to Harvard, and the class would be even whiter, with a median income even higher than it does know. There would be scores of unhappy GCs, feeder schools would be p-o-ed, and...</p>
<p>It is the "standard stump speech". He knows it. (And when they end up with 10 oboeists rather than 3, you have some VERY UNHAPPY students.) The students are "fully qualified", but relative to whom they took in building a class, they are LESS qualified. (Imagine him making the opposite speech: "Hey, yous rejects, yous a bunch of losers!") The point is, the single easiest way to increase prestige is to REJECT lots of good candidates.</p>
<p>Now to qualify that: one of the odd things that happens is that as more and more students are rejected, beyond a certain point, "selectivity" actually declines (this is not contradictory). This is because once one goes beyond the law of diminishing returns, the vagaries of yield and "chemistry" that go into building a class become greater. It becomes less predictable as to who will actually attend, who will fill out all the departments, etc. But the answer to that is to make selection LESS rather than more random, evaluating "interest", developing closer relationships with GCs, making it easier for low-income students to attend (if that is a goal), and competing with the Emories and Vanderbilts of the world by offering small scholarships to the near-wealthy in lieu of loans. And that is precisely what schools like Yale are doing.</p>
<p>NOTHING is random.</p>