I’m happy to volunteer my personal opinion as long as it’s understood that we’re talking about aggregate averages that do not necessarily apply to individual students.
The big question is - what does “weaker” mean?
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Does it mean relative to the average student? At the most selective schools, I’d say that legacies on average are about the same as the average student. I’d say they have stronger academic preparation before they enroll (they usually come from stronger high schools, have more opportunities when they’re growing up, can afford test prep so they’ll do better on their SATs, take more APs, etc.). I’d also say they do about as well academically as the average non-legacy student while they’re in college.
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Does it mean relative to other groups that receive admissions preferences, such as athletic recruits, URMs, first generation students, etc? In that case I’d say that legacies are probably academically stronger than these other preferenced groups.
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On the other hand, legacies are disproportionately white, come from higher SES families, aren’t first generation, etc. If you judge them relative to students with a similar demographic profile, then my guess is they’re probably a little weaker.
In my opinion, somewhat of a mixed bag. Nothing to get an ulcer about either way.
My own observation from over 30 years ago when I attended is that legacies were definitely academically weaker than the average student. But the legacy bump is smaller now and there’s lots of data that things are different today.
Well, we can debate how much schools actually take into account “fit” and “presentation”. However, I will say that if schools are making admissions decisions based on criteria like having a sibling who can make sure they “know the ropes”, then it does seem to me that this would be the ultimate in “perpetuating privilege”.
Lots of poorer or first generation students didn’t grow up hearing folklore concerning the subtle differences among these elite colleges. They are very young and often don’t have adults who can guide them. I for one hope that colleges place much more emphasis on assessing the long-run potential that students have, what they will bring to the campus, and how much of a difference attending the college can make in each student’s life.