The goal of equal educational opportunity remains unrealized at most of America's colleges. The children of wealth and privilege fill nearly all the seats at these institutions, while the children of poverty are almost completely absent. Far too often, a young person's educational path is determined not by intellect, but by parental income. That a…

Today a college degree is considered the ticket to a good job and the gateway to economic advancement. A student's chances of gaining admission to college, however, are often based more on parental wealth than the student's achievements. At the nation's most selective colleges, three percent of incoming freshmen come from families in the bottom…

The increasingly popular option of applying "early decision" (ED) requires a student to make a binding commitment that, if admitted to a particular college, she or he will enroll. Now offered by 184 U.S. colleges and universities, ED is a highly effective--and therefore highly seductive--tool for managing enrollment. This author argues,…