University of Chicago adds a Z-list admissions option

The Chicago Maroon reports on an unexpectedly large class of 2016, as applications continue to grow, acceptance rates to fall, and the yield rate (the percentage of accepted students who decide to attend) rose. And Chicago has adopted an unusual admissions option previously seen at Harvard, the Z-list*.

"More students than expected have accepted a spot in the College’s class of 2016, pushing University officials to balance the U of C’s increasing popularity and its commitment to an intimate undergraduate experience.

"The incoming freshman class will comprise approximately 1,525 students, 125 more than the College’s consistent target size, according to University spokesperson Jeremy Manier.

"The number of students who accepted an offer of admission—the “yield rate”—rose to 46.8 percent, up 6.9 percentage points from last year. This is the first year that the yield rate strayed from the 36–40 percent range since 2007, even as the acceptance rate continued to decline.
...
"The College only accepted 20 transfer students, instead of the usual 40 or 50.

"The College is keeping a “z-list” option for the first time, offering applicants admission into the class of 2017 if they first take a gap year. Manier said that between 20 and 30 students are expected to accept that option.
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*Note that the Z-list option is different from an acceptance simply deferred for a year, because it puts a condition on what the applicant can do in the intervening year (he/she can't enroll in another course of study...)

 HT: Scott Kominers