The Jack Kent Cooke Foundation has just launched the latest offensive in the war over admissions to the supposed elite of America’s colleges and universities. In its report entitled True Merit, the Foundation advocates economic preferences so that smart students from relatively poor families can have their fair share of the small number of spots at schools like Harvard, Yale, Princeton, and Stanford. But admission preferences, whether based on race or income, are clumsy tools for achieving social or educational ends. A much better approach is to identify academically sharp but lower-income students, then help them to find the best college and assist them through to their degrees.