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I think there are two huge factors why campuses have become more competitive.
1) Increased legacies. As more women have been initiated over time, it obviously means more legacies.
2) Increased admittance standards to universities. The overwhelming majority of colleges have, over time, had higher standards to admit students. Therefore there are less and less girls that don't meet national GPAs and the majority of the women admitted to the college will have strong (and, more importantly, comparable) resumes of achievements. This makes grade cuts or cuts for lack of activities/talents nearly impossible at some schools.
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