Slightly confused about U Chicagos's acceptence rate?

[unalove]

<p>There’s a UChicago livejournal community where students have been discussing our self-selectivity, rank, admissions rate etc. Here’s a choice quote from one of the discussions:</p>

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The U of C is what it is in large part because the student body is composed mostly of extremely intelligent people who come to Chicago for its unique educational offerings; historically, this has been maintained partly by self-selection among applicants. If Chicago falls into the trap of pushing for higher rankings, at best they’ll be wasting our tuition money on recruiting a lot of students who aren’t at all right for the school in order to drive down acceptance rates; this could easily slide into a dilution of the student body in terms of who is actually “right” for the school, as admissions officers have a much harder time selecting qualified students from a larger applicant pool.

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<p>Many Chicagoans (myself included) don’t think that upping the number of applicants would be conducive to building a better school for the students who attend.</p>