Part of the issue with this is that wealthy people are often wealthy because they're very smart, and being smart is in part due to genetics. So it follows that

Part of the issue with this is that wealthy people are often wealthy because they're very smart, and being smart is in part due to genetics. So it follows that smart children will disproportionately have wealthy parents, and that will lead to more children of wealthy parents in high ranking colleges. This has been proven many times, most famously in the NLSY which surveyed thousands of kids over the course of their life, and researchers found if you adjusted for IQ you could predict a child's future income well, and you could predict which children of wealthy parents were likely to build more wealth or lose it all by looking at their IQ. Unfortunately the courts have a history of disallowing the use of IQ, viewing it as a violation of the civil rights act (see Griggs v. Duke Power Co. for more info). The colleges may be found liable of favoritism towards wealthy students, despite it most likely being the opposite. Lastly here's the article if you're also paywalled https://archive.is/PX63H https://archive.is/PX63H