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Comment by rf15 | Hacker News Reader

As someone from europe I'd say Harvard and MIT are the #1 prestige institutions, and a lot of people will not settle for less.

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A lot? Those institutions only accept a relatively small total number of foreign students. Everyone else has to "settle for less" whether they want to or not.

If Dad gifts a new building on campus you odds at getting accepted go up tenfold.

I dont see why that is ever considered a problem. They are literally a private institution selling a service. Why shouldn't you be able to pay your way to the front of the line.

It's fine as long as they're open about it. It's when they say "We're a very selective institution that only accepts the academic best of the best from the entire world" and then also allow pay to play, clarifying "Also the people whose parents donated us buildings juuuuust so happen to be the academic best of the best from the the entire world" that people start to question just how selective admission really is, and just how world-class their student body and standards really are.

If they kept stats on who was an endowment/legacy admit and gave them a different colored diploma so people could filter them out when assessing things like grades and graduation rate and they didn't effect the curve I think there would be less criticism of the process.

I think they do keep stats on legacy admits.

I dont see why they would get different diplomas provided they complete the same coursework. If they are inferior, they should only help others on the curve.

I do think they would be more upfront about options for entry.

>If they are inferior, they should only help others on the curve.

Not if they're given unearned grades

Everyone at Harvard is given unearned grades. It's the poster child for GPA inflation.

I forget the exact stat, but I think the median GPA there is about an A-.

Depends in what. HEC in France is the top for finance.

Oxford, Cambridge and Imperial College would disagree.

There is no need for there to be one and only one such institution.

MIT, really? I think of MIT as being high prestige mostly for people that actually want a science or tech-related career, not for old-money people looking to make family connections.

> MIT as being high prestige mostly for people that actually want a science or tech-related career...

Apparently you've not been to MIT in a while - it offers degrees in business management, finance, plus 17 in arts, humanities, and social sciences, not to mention grad programs. MIT admits more than its fair share of fruit-cakes with money:

https://catalog.mit.edu/degree-charts/

Believe it or not, I've never been to MIT.

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