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The answer to your list of problems isn't letting in unqualified students to universities. It's getting them qualified long before they arrive. Otherwise, you just set them up for failure.
BTW, Asian students regularly outperform white students. Is that because they are all richer than whites? Inherently smarter? No, it is because they place a premium on education and its importance above that of all other groups. IOW, they are prepared when it comes time to apply to universities. Yet, they are being kept out to let in others who haven't arrived prepared.
I understand that you perceive a problem with unqualified minority students being admitted into universities, but I've heard no proposals from you on how to address your issue. Maybe a national ad campaign telling minorities that they must place a higher premium on education? Funding all our schools, at all levels is a more practical and effective solution.
And the median annual income of Asian American households is $73,060, compared with $53,600 among all households. Wealth makes the difference in the vast majority of cases. Just like most things in life...