<p>The 12% admit rate prediction was originally reported in an 8/24/06 piece by Emily Sachar on Bloomberg News Service. According to her story, “Pennsylvania, founded in Philadelphia in 1740 by Benjamin Franklin, expects the percentage of applicants admitted now to drop to 12 percent from the current 17 percent, said Dean of Admissions Lee Stetson.” The Daily Pennsylvanian was not cited as a source.</p>