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<p>While I do understand what you’re saying, how would you argue that the students at Y are any worse than those at P (or H for that matter). Looking at all kinds of objective data, from acceptance rates and SAT/GPA ranges, to prestigious scholarships (especially Rhodes), how can one come to the conclusion that Yale is any worse than Princeton? In fact how can one come to any conclusion other than one asserting Yale’s superiority in comparison to Princeton as far as student quality goes. In the same vein one could argue that, at least for the class of 2017, UChicago compares well (and often exceeds HYP) in the same criteria, and this would be disputable, but how does Y not come out as at least second to Harvard (and maybe MIT)…</p>
<p>As important as having a high quality student body is, I’d say its effect saturates when you get to the top 10 (of which HYPSM and UChicago are certainly well-rooted members) or so. At that point, standard of education and intangibles like fit become far more important than a difference of 1-2% in acceptance rates or 10 points in the SAT.</p>