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Alpha Delta Pi used to have that rule, but I think it's been removed.
As for the bucks, look at it this way: what if a bid is given to someone who truly cannot afford it? Maybe it's literally thousands of dollars, by the time housing, dues, parlor fees, etc are all counted. There may be some people better prepared to pay for the sorority experience.
And if you only knew how much I hate, hate, hate writing that, but it's a reality. Even on my campus, there was one house that was so much more expensive than the others that they basically only took legacies and the rich girls!
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~ *~"ADPi"~*~
♥Proud to be a Macon Magnolia ♥
"He who is not busy being born is busy dying." Bob Dylan
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