<p>Not TWICE as large as the baby boomers. Actually, about 10-20% smaller. The birthrate started rising again in 1976, and the boom started around 1982, accelerated in 1985 or 1986, peaked rapidly in 1988-1990, and started going down slightly in 1991 and fell out by 1993 and 1994.</p>
<p>The current situation is a combination of a demographic surge (particularly among those who can afford top colleges), the increasingly aggressive nature of college catering and preparation from a young age to go to an outstanding college, grade inflation, and the trend for applying to more and more schools. The second one also seems to be a Generation Y trait in particular.</p>