<p>It is costly and inefficient for colleges to have to admit two people for every vacancy - or, in Chicago’s case, three people for every vacancy. Hence the attraction of early admissions programs and the expanding use of waitlists. </p>
<p>The goal being to attract a pre-defined diversity mix, insofar as possible, anything to raise the yield rate helps to achieve that goal with more precision. Great for the school - not so great for the applicants. Students from the lowest economic quadrant are far less likely to apply early.</p>