People are always going to use their money to buy status. So as long as these college offer prestige & status, people with money are going to use it to get in. Much like doping in sports, you have two paths you can take: try to combat cheating, or accept the cheating as part of the game. I think these universities should accept that they are providing an education, but they are selling prestige, and split their admis…
The problem is that you can only sell prestige if there is strategic ambiguity between the two categories.
This is similar, there needs to be enough for people being accepted to and graduating from a university so when the rich kids also does it people think that he is smart and accomplished.