Here’s The Amount of Money Colleges Make from Rejected Applications [Video]By Audri Taylors, UniversityHerald Reporter
The college admissions process is a tough and tedious process. College applicants spend so many hours filling out college applications, writing their essays, studying for the admissions test, and patiently waiting for months to hear back from the schools they have applied for, only to find out in the end they will be rejected in some. While it may be a sad news for students who receive rejections from their dream schools, some colleges actually reap the benefits from it.
There are a number of colleges and universities that earn a lot from rejected applications. How? Because when they offer cheaper admissions test to applicants, it will increase the number of submitted applications, while there will still be a low turn out of qualified applicants. This is how students can benefit from rejected applications in the form of revenue.
An example is Harvard University which earns $3 million in gross profits from rejected applications every year, and that is according to UCEazy. The data from the study also show that universities are able to make over $200 million in total from rejected applications because applicants are not prepared and unqualified.
According to Vinnie Gupta, the founder of the study, the research was conducted in order to understand the struggle that college applicants experience to get into college. Many hopeful applicants are spending money and resources to apply to their dream schools, even if sometimes, they have a very slim chance of getting accepted.
They also shared with USA Today College the results of their study. Here are the five schools that earn the most from rejected applications.
1. University of California-Los Angeles: $5,369,840
2. University of California-Berkeley: $4,681,320
3. Stanford University: $3,632,130
4. University of California-San Diego: $3,608,290
5. University of Southern California: $3,419,440