> Admission rates for colleges have been dropping across the board, for top tier schools even more sharply
I do not see how this could be happening in aggregate. College attendance is way up over the last few decades, even at the graduate level. Sure, top schools are more competitive, but that is only because their is more to filter out, and newer schools would seemingly pick up the slack. Many of the less than reputable for-profit schools have pretty much no admission requirements (except $$$). I personally think this new evolving system is still extremely problematic, but not because of admissions.
I do not see how this could be happening in aggregate. College attendance is way up over the last few decades, even at the graduate level. Sure, top schools are more competitive, but that is only because their is more to filter out, and newer schools would seemingly pick up the slack. Many of the less than reputable for-profit schools have pretty much no admission requirements (except $$$). I personally think this new evolving system is still extremely problematic, but not because of admissions.