A recent in-depth study has found that being wealthy makes a student much more likely to be admitted to the 12 most prestigious universities in America.
The study by Opportunity Insights, a non-profit organization located at Harvard, found that students from the wealthiest 1% had a 34% higher likelihood of gaining admission to these exclusive colleges. For the scions of the wealthiest 0.1%, the odds of being admitted were a substantial 2.2 times more than the average applicant.
Only about 1% of the nation’s college students attend these 12 elite schools, but the chances of being one of the economic and political elite rise exponentially for those fortunate enough to be admitted, reported The New York Times. Students with these elite credentials account for 12% of Fortune 500 CEOs and a quarter of U.S. senators, as well as 13% of the top 0.1% of earners.
Matriculating through these institutions increased the likelihood from 12% to 19% that a student would eventually earn in the top 1%.
Admission also doubled the chance of going to a top graduate school and tripled the likelihood of working at prestigious firms.
The researchers found that once admitted to these elite schools, however, being a child of privilege did not net a greater likelihood of achieving any of the aforementioned results when compared to less privileged classmates. They also concluded that, if schools did not use legacy, athletic, and private school preferences in admissions, the share of one percenters admitted would drop from 16% to 10% for the years covered in the study.
Though the study did not analyze admission rates by race, the top 1% that disproportionately benefits from the admissions system as it stands is mostly white, according to the NYT.
The group least likely to be admitted, according to the study, were students from middle-class families, who had a lower chance than wealthier and poorer applicants with the same test scores. One elite school admissions office found the admitted student body was full of those with need-based Pell grants and those who had no need-based assistance, with virtually no middle class, reported the NYT.
Wealthier students’ higher acceptance rates are enhanced by several factors, the study found, including legacy preference policies.
Perhaps surprisingly, however, wealthier students are more likely to qualify for athletic scholarships, especially in exclusive sports such as rowing and fencing. This, in turn, gives wealthier students a fourfold greater chance of admission over others with the same academic credentials.
“There’s a common misperception that it’s about basketball and football and low-income kids making their way into selective colleges. But the enrollment leaders know athletes tend to be wealthier, so it’s a win-win,” Michael Bastedo, a professor at the University of Michigan, told the NYT.
Wealthy students were also more likely to get credit for extracurricular activities and benefit from recommendation letters, especially from counselors at secular private schools.
The Dallas Express reached out to Harvard University for comment about the study’s findings. In an email reply, Nicole Rura, a senior communications officer at Harvard, was hopeful that the study would spur improvements to an admissions process in flux due to the recent court rulings.
“Following the Supreme Court’s recent decision, we are in the process of reviewing aspects of our admissions policies to assure compliance with the law and to carry forward Harvard’s longstanding commitment to welcoming students of extraordinary talent and promise who come from a wide range of backgrounds, perspectives, and life experiences. … The research released by Professors Chetty, Deming and Friedman [study authors] will add insights to our considerations and our continuing efforts to attract and support a community of outstanding students whose educational opportunities are not constrained by financial circumstances.
“As this work continues, and moving forward, Harvard remains dedicated to opening doors to opportunity and to redoubling our efforts to encourage students from many different backgrounds to apply for admission,” the email read.
The reply also noted that admitted students from families with an income of $85,000 or less will attend Harvard for free starting in the 2023-24 academic year.
