One of the more prominent examples of what I am referring to is the University of California system, where the admissions process and criteria are intended to increase the representation of students from lower SES families (and relatively successfully, since the Pell grant percentage at UCs tends to be significantly higher than at most comparably selective other schools). Examples include not having ED, not considering legacy, not requiring recommendations or SAT subject scores, not using CSS Profile, and emphasizing courses and grades over SAT/ACT scores.
Do you think that they would really do such a thing without at least considering the implications on financial aid budgets? If not, do you think that any other college would not consider the financial aid implications of any admission policy change?
Perhaps the specific college you are familiar with happens to be one of the few ultra-wealthy ones? Most others need to keep a closer eye on their budgets.