Competition for spots at top universities is much more anxiety-inducing than for previous generations. The reason can be summed up in one word: demographics. In 1972, just 12% of those 25 and older had finished college. By 2014, that number had grown to 31%, and the size of the U.S. population had increased by 50%. The number of slots at prestigious colleges has not kept pace. What's more, the pool of high-achieving applicants continues to grow, fed partly by a rising number from overseas. As a result, some top colleges now reject 95% of applicants.
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