So to answer your title of your thread… Schools like Alabama might get a free ride in there.
My son applied with a 3.9 or so and 34 Act. I made him apply to schools from t10 to t50. I wanted him to have safeties that he would enjoy going to. He learned a lot about various schools and there are great schools not in the t10. Most schools below like t25 he was offered like half scholarships. Most schools the end result was almost identical. But there are schools like Miami or Ohio that have great merit. He didn’t apply to automatic merit schools.
Saying this since you mentioned Babson. We know someone there. It’s not that easy to get in and she describes the people there as brilliant minds. Don’t let the stats fool you. Essays do count and can really help separate some people out. Northeastern is not a shoe in either etc
After looking at many schools etc it does seem like the magical act score is 33/34, 3.8 unweighted and a great essay.