In the United States, admissions into colleges, universities, and professional programs has long been the subject of much discussion and controversy (Bowen & Bok, 1998;Fisher & Resnick, 1990;Shelton, 1997;Zwick, 2002). The value of a degree from both a financial and individual standpoint has been well established. Baum and Ma (2007) demonstrated that a full-time employee without a college degree would earn, on average, approximately $31,500. This amount is considerably lower than those with a college degree who earn, on average, approximately $50,900 each year. College degree recipients also engage in more prosocial behaviors, such as volunteering, voting, and participating in political activities (Bowen & Bok, 1998;Goldberg & Smith, 2008).The numbers are even more dramatic when recipients of advanced degrees are investigated. Lacey and Crosby (2004) estimated that obtaining a master's degree increased earnings for employees by approximately 21% compared with employees completing similar work who had obtained only a bachelor's degree. Another report estimated that the average annual earnings for full-time employees with a bachelor's degree was approximately $45,400 compared with full-time professional degree holders (MD, JD, DDS, or DVM), who had an average annual salary of $99,300 (U.S. Census Bureau, 2002). The same report estimated that employees with a bachelor's degree who worked full time throughout adulthood would earn approximately $2.1 million dollars. In contrast, employees holding a master's degree were estimated to earn $2.5 million, whereas those with a doctorate ($3.4 million) and professional degrees ($4.4 million) were estimated to earn even more.Given these benefits, it is not surprising that the competition to enter into higher education institutions and professional programs can be extremely high. Colleges and universities have observed an increase in applications. For the fourth consecutive year, more than 75% of 4-year institutions have had an increase in applicants according to the National Association for College Admission Counseling (NACAC; Clinedinst & Hawkins, 2009). In addition, students in general are sending applications to an increasing number of schools; 22% of applicants for the fall 2008 entering class applied to seven or more colleges compared with 19% in 2007. This increase has also been observed in graduate schools, with the average number of law school applications per student increasing from 5.0 in 2002 to 6.5 in 20086.5 in (Handwerk, 2009. In 2009, medical school applicants completed an average of 13 applications, resulting in 562,694 applications being sent with only 18,390 eventual matriculants (Association of American Medical Colleges, 2010).In the competition for openings within undergraduate institutions, students are typically required to submit scores from either the SAT or the American College Test (ACT). Although there has been an increase in the number of colleges that do not require admissions test scores from applicants, the vast majority of competitive 4-ye...