Children from families in the top 1% financially are more than twice as likely to attend an elite university than those from middle-class families with comparable SAT and ACT scores, a new study found.
The researchers looked at the eight Ivy League universities, in addition to Stanford, MIT, Duke and the University of Chicago.
“The stark difference in admissions gradients by parental income between selective public and private institutions suggests that highly selective private colleges may have the capacity to change the composition of their student bodies by changing their admissions practices to emulate those used by highly selective public colleges,” the study stated.
The study found attending one of the elite institutions has long-lasting effects: increasing students’ chances of reaching the top 1% of income by 60%, almost doubling the likelihood of attending an elite graduate school, and tripling their chances of getting employed at a prestigious firm.
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