College admissions expert says there's an unexpected 'silver lining' to the college cheating scandal via CNBCMakeIt
On Tuesday, federal prosecutors brought charges against 50 people in a college cheating scandal wherein wealthy parents paid around $25 million to help their students gain admittance into exclusive colleges and universities including Yale, Stanford and Georgetown.
Hafeez Lakhani is the founder and president of academic coaching firm Lakhani Coaching. Lakhani says he earned a perfect SAT score, went to Yale, worked for Morgan Stanley, and now charges as much as $1,000 an hour for his personal college preparatory services. "If there is a silver lining to the scandal," Lakhani says,"it's that even perfectly legitimate elite admissions coaching mostly helps students compete for those spots that would be carved out for students with privilege — the private school set, for instance — and doesn't cannibalize spots that would go to public school or lower income candidates."
Richard V. Reeves, senior fellow of Economic Studies and co-director of the Center on Children and Families at the Brookings Institute, says that Lakhani's argument misses the bigger picture. "I think that's a really terrible defense to just say, 'Yes, it's unfair, but it's just affecting other wealthy people,'" he says."What it does is it normalizes the idea that you can game the system or buy by the system."
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