re: Kentucky has an acceptance rate of 94%

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There's nothing wrong with open admissions, as long as your graduation rate isn't high as well.

If your goal is a high graduation rate, you will have a high graduation rate. There is nothing inherently good about high graduation rates.

A lot of state schools used to have open admissions. The thought was, it's easy to get in, but the hard part is actually staying in.

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That's how my school was (don't know if it still is because that was 25 years ago). Pretty much everyone could get in because it's a state school, but ~50% of the freshman would drop out because it was so difficult. Trial by fire.