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Anyone wants to speculate on why HYPC UPENN all have to use the waitlist while Brown and Dartmouth are over-enrolled.
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For some, you need to look at the changes in their early decision policies; for others, it had to be a desire to remain competitive in the arm's race of posting the lowest admission number possible.
The fact that Penn and Yale have to dig deep in a WL pool is quite different from the situation at Harvard and Princeton.