Admissions already works like this. An admissions committee is a bunch of professors that volunteered / were convinced to do admissions, and they consider the a

Admissions already works like this. An admissions committee is a bunch of professors that volunteered / were convinced to do admissions, and they consider the academic background, personal background, demographics, essays (sometimes), and most of all - ability to pay. Requiring aid negatively impacts your chances of even getting in.