”A lot of what they do is just admit people who will be high income earners.”
Aka Bryan Caplan’s signalling theory of education:
https://blog.press.princeton.edu/2018/01/23/bryan-caplan-on-...
Aka Bryan Caplan’s signalling theory of education:
https://blog.press.princeton.edu/2018/01/23/bryan-caplan-on-...
I believe that they were trying to say that the people who go to college are more likely to be successful than those who don't, regardless of if they actually go to college or not.