Let me take a controversial position here and state that colleges and universities absolutely should accept otherwise unqualified students if their parents donate a building, or if they’re legacies, or any other nepotistic reason.
That is, as long as the rest of the world judges the quality of all the graduates of their institution based on the fact that they are selling unearned degrees to some of them. I am already seeing reduced respect for Harvard degrees due to this particular reason.
There are other avenues, too. Accreditation organizations could delist them, saying “graduates from school X are unqualified, because it’s become yet another expensive degree mill.”
Seems like a suitably Keynesian solution.
