How much do you think money and parents' social status influence elite college admissions?

[Zinhead]

Family and parent incomes can be gamed, just like class rankings. If you own a small business, you can show colleges you make 60K when you make a lot more than that. There is even a cottage industry that helps families hide income so they get more financial aid.

In actuality, one is penalized for owning a small business when calculating need based financial aid.