It's all about margins. They want to squeeze teachers and get minimum-wage adjuncts to teach 1st years. At the same time, they want future rich people to be students, so they will donate back.
Harvard, MIT, and Oxford have no problem finding future rich people. Random schools can't compete for smart people, so it makes sense for them to try to find prospects based on alternative criteria.
Harvard, MIT, and Oxford have no problem finding future rich people. Random schools can't compete for smart people, so it makes sense for them to try to find prospects based on alternative criteria.