NutBrnHair and GeekyPenguin both bring up very good points.
Freshmen are definitely desirable because it's more likely that they'll be around for the full 4 years. They might depledge, deaffiliate, transfer away, drop out, etc., but a junior is definitely going to be gone in 2-3 years (generally speaking). Freshmen who do stick around for 4 years bring some continuity, and of course, 4 years' worth of dues.
But that doesn't mean a chapter should exclusively take freshmen. It just plain doesn't make sense to cut someone who's smart, outgoing, interested in community service, etc. simply because she's a junior - especially if you don't see those qualities among the freshmen.
This is why I like the idea of a separate junior/senior quota. This way, a chapter can take the smart, outgoing junior without having to "give up a spot" that would otherwise go to a freshman.
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