Because what the most selective universities sell is not just education, which is usually solid but not necessarily top notch. They are selling the exclusively, the promise that the student will mingle with the right kind of folks. They sell intense networking opportunities with upwardly-mobile folks, and with kids from very well-off families.
BTW this is also why such institutions pay so much attention to.extracurricular activities, clubs, sports, traditions of certain elaborate mischiefs, etc. These all are bonding mechanisms that make the alumni networks more tightly knit and thus more valuable to the alumni.
This is a significant reason why they are glad to accept legacy admissions: it helps keep the links between fresh graduates and influential but older alumni, again making the network more valuable.
The academic load helps keep those with weak intelligence and willpower away. It also provides useful knowledge and a formal degree, but it's sort of secondary, technical detail.
I understand that's what they do, I just don't understand why. I imagine that most academics would want to favor academic excellence over providing a networking service for the rich and well-connected, but I'm evidently wrong. I guess my mental model of what drives US university administrators is flawed. By the way, this is mostly a US phenomenon as far as I know.
BTW this is also why such institutions pay so much attention to.extracurricular activities, clubs, sports, traditions of certain elaborate mischiefs, etc. These all are bonding mechanisms that make the alumni networks more tightly knit and thus more valuable to the alumni.
This is a significant reason why they are glad to accept legacy admissions: it helps keep the links between fresh graduates and influential but older alumni, again making the network more valuable.
The academic load helps keep those with weak intelligence and willpower away. It also provides useful knowledge and a formal degree, but it's sort of secondary, technical detail.