Word: caltech
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...easier bet for him to make, since his room and board aren’t riding on it.) Golden claims that colleges could abolish legacy preference without taking a huge fundraising hit. He notes that “three prestigious private colleges”—Caltech, Cooper Union in New York City, and Berea College in Kentucky—“flourish without preferences for…alumni children...
...Just as Copernicus disproved the medieval notion that the sun revolves around the earth, Caltech disproves the modern dogma that the survival of private education revolves around admissions breaks for the rich,” Golden writes...
...short of a “proof.” Caltech’s emphasis on science research means that its faculty members can rely on federal agencies and other grant-givers for funding—a luxury that many Harvard humanities professors don’t enjoy. Whereas Caltech derives more than 40 percent of its revenue from research grants and contracts, Harvard’s Faculty of Arts and Sciences derives just 17 percent of its income from those sources. In other words, Harvard must be more reliant on private donations—and, specifically, on alums...
...much harder thing.” At Cooper Union, meanwhile, school officials readily acknowledge that a legacy-preference policy would boost fundraising. “If we had legacy preference, we could buy a parcel and build a gym,” a Cooper vice president tells Golden. For Caltech and Cooper Union, pure meritocracy carries a high cost...
...stems from other motives, such as gratitude for their own education or desire to promote research or teaching in an overlooked field.” That’s a sweet thought—but it’s utterly unsupported by evidence. Eschewing legacy preference has left Caltech with an alumni giving rate that’s 15 percent below Harvard’s and 29 percent lower than Princeton’s, according to 2004-2005 data. Cooper Union’s alumni giving rate is 11 percent below Harvard’s, and Berea?...