As I understand it, most "elite" universities give special consideration to the children of parents who make large donations, in order to encourage such donatio

As I understand it, most "elite" universities give special consideration to the children of parents who make large donations, in order to encourage such donations. Is this not well known? I have heard a couple of arguments in favor of the practice: 1) It brings more money into the university (most important reason for the university) 2) It enables the university to admit and educate a larger number of students than it could otherwise afford to (potentially pro-social reason)