Here’s that article, I don’t see a gift link, I think it’s because it’s a magazine article?
Here’s what happens at Trinity College at the end of the RD admissions process (from the article)
Like most enrollment managers, Pérez contracts with an outside financial-aid-optimization company to perform econometric modeling on his applicant pool. The company he worked with, the year I was following his progress, was Hardwick Day, a firm based in Bloomington, Minn., that, after a recent round of consolidation in the industry, is now a division of a giant higher-education consulting company called EAB. Hardwick Day’s predictive models allowed its analysts to identify, based on the behavior of past students, precisely what tuition each individual applicant would probably be willing to pay. A white student from Danbury with, say, a 3.1 G.P.A. and a 1,200 SAT? Hardwick Day’s models might predict that if Trinity offered him a $15,000 discount, he would accept, but if it offered him a $5,000 discount, he would go to the University of Connecticut instead.
On March 6, once Pérez’s admission counselors had finished whittling down the list of tentative admits, this was the math problem that he presented to Hardwick Day: Help me find the right 1,700 students to produce a class of 600 freshmen who will be willing to pay, together, $19 million — and tell me how much of a tuition discount I need to offer each one. Over the next two weeks, data flew back and forth between Hartford and Bloomington as Pérez and his team gradually cut their pile of tentative admits to 2,500, and then 2,300, and then 2,100, heading ever closer to 1,700, always trying to balance the students they wanted with the ones they needed. Each morning, Pérez would give his team a new set of instructions, based on the previous day’s analysis from Hardwick Day. One day, the tentative admit pile had too many men from the Northeast who needed financial aid, so they spent the day slicing away at that demographic. The next day, they needed to cut women from the Northeast. And on it went.
After each round of cuts, Pérez and his team would send their new, pared-down collection of proposed admits to Hardwick Day, and an hour or two later, a Financial Aid Monitoring Report, in the form of a PDF file, would show up in Pérez’s email inbox. Each report included a precise prediction of the overall class size and tuition revenue that Pérez’s latest set of theoretical admits would produce, and each time, the result was the same: The class size was too large, and the tuition revenue was too small. There were too many full-need students on Pérez’s wish list, and not enough full-pay ones.