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So here's the thing: a student body is more than the sum of its parts, which a lottery ignores. To use just one example: a lottery could easily wind up admitting 40 violin players and zero bassoon players, or 8 percussionists but not a single oboe player. In which case a viable university orchestra becomes impossible, and every potential orchestra player suffers. (These are not exaggerated either -- for an incoming class of 1,000 students, of which only ~100 have a sufficient orchestra background with the requisite years of practice and want to play, there isn't a lot of margin for error.) Now repeat ad nauseum for every type of sports team, extracurricular, distribution across majors, etc. By ensuring there are approximately the right number of every "slots" for each type of applicant, the institution ensures that students have the ability to participate in the types of activities and courses they want to, and that student life is rich both academically and extracurricularly. There are legitimate problems with some of the "slotting" as practiced today (particularly concerning legacies and in terms of whether a racial/ethnic/national balance should match the nation, the applicant pool, some other balance, or be ignored entirely), but a lottery would throw out the baby with the bathwater, and be a disaster for ensuring the kind of vibrant student life that is a major part of 4-year university experience. (Obviously this is specific to smaller institutions, whether elite or not -- if your incoming class is 30,000 students then you'll always have enough of everyone.) |
Think about it this way: the nature of the game is like investing - it's about Harvard picking winners. Harvard is like the well-known VC that can say they funded <this many> unicorns, and being a part of Harvard means being associated with success. Harvard may take some waivers on higher-risk/less-fortunate students for diversifying investments, but it's only one piece of the portfolio. Selectivity is a key ingredient to their ROI, endowment fund, and social capital. Harvard is a private university and cares about their private equity and capital in a way that is different from public universities.