<p>In terms of yield protection: </p>
<p>UChicago used to pay virtually no attention to a student’s actual interest in the school. The old admissions dean’s policy was: “We accept the best, and hope to get as many as we can." At that time, UChicago really only looked for the top minds, without regard for their interest in the school itself.</p>
<p>You can read more here: [Welcome</a> to the University of Chicago Magazine Online](<a href=“http://magazine.uchicago.edu/9904/html/curriculum.htm]Welcome”>Welcome to the University of Chicago Magazine Online)</p>
<p>This differed strongly from many other schools, which tried to gauge student interest in a school (either through ED policies, a “Why X school” essay, etc.) </p>
<p>Now, UChicago is trying to get the best minds, but is also paying more attention to students that actually really want to come to UChicago. This is different from the past, and is a form of “yield protection,” at least in the sense that in the past, UChicago didn’t give two hoots about yield (and had maybe a 25% yield). </p>
<p>For the second question about UChicago being a “safety” school in the recent past, well, here it is from the horse’s mouth (that is, the NY Times):</p>
<p>[GUIDANCE</a> COUNSELOR - The New Safeties - NYTimes.com](<a href=“The New Safeties - The New York Times”>The New Safeties - The New York Times)</p>
<p>The most pertinent quote: " If you want an intellectually rigorous, urban campus, the University of Chicago may be a fallback for the University of Pennsylvania."</p>
<p>Now, of course, this article was poorly researched, and the author also ridiculously claims that Georgetown could be a safety for Columbia. Nevertheless, the point holds - in 2007, when UChicago had a 38% accept rate and UPenn had a 20% accept rate, and both accepted comparable students, one could reasonably state that UChicago was taking a greater share of good students in relation to the school’s applicant pool. </p>
<p>Go back another 10 years, when UPenn had a 38% accept rate overall, and the same holds for Penn - it was seen as a “safety” school for students that didn’t get into their top choices. </p>
<p>Whether the author’s assertions are true or not (and I certainly don’t think they were), they demonstrate an important point - at least as recently as 5 years ago, UChicago was perceived as being a safety school, in some regards. </p>
<p>Now, with my original point in mind, it’s really tough to say that a school with a 13% accept rate is a safety for any school. Moreover, if, in a few years, UChicago’s accept rate is ~9%, it will be virtually impossible to make that argument. As people sometimes blindly go by admit rate, it’s easier to question a school’s 38% accept rate than it is for a 9% accept rate. </p>
<p>So, again, give it some time - in 4-5 more admissions cycles, as UChicago’s admit rate should solidly be in the 10% range, I highly doubt we’ll ever see an article like the one that was published in the NY Times in 2007.</p>