The most important thing for a university or a school is it's signalling value for a graduate. If people know that "X graduate" is a mark of a well-educated, sm

The most important thing for a university or a school is it's signalling value for a graduate. If people know that "X graduate" is a mark of a well-educated, smart person, a school will be successful beyond measure. If, however, a school starts to admit anyone who's willing to pay and stop failing people, then the signal will dilute quickly, as will the prestige and applicants, eventually.