<p>Always a good sign. Penn has nowhere to go but up this year, and perhaps many students are just exploiting the prestige/admit rate arbitrage that has opened up in the last year.</p>
<p>Admissions experts are pretty myopic about greater trends - at the very least, they are NOT competent statisticians (amateurish or not). This number doesn’t really surprise me, given Furda’s pretty crazy recruitment efforts, and it only “surprises” people who didn’t know about them. Schools don’t bend to the economy - they bend to the economy AND situational factors. Blinded by their own silly heuristics, gosh.</p>
<p>If we want a 10% acceptance rate, we would need ~38,000 people to apply. That could take a while, unless they shrink class size - which of course will never happen.</p>
<p>Just saying - acceptance rates have nadirs, and we’re approaching ours. I’m not saying that we won’t reach 13% or even 12%, but it can’t get too much lower unless the yield sky-rockets.</p>