Colleges run like businesses.

This means that Ivy League and other prestigious universities — the ones in high demand, the ones whose names make you raise your eyebrows — aren’t hurting for students. They have plenty of applicants, and many of them, once accepted, will choose to go to their school.

This is due to their impressive brand image.

Since these schools have such a positive brand-image — also known as high brand equity — they just get more. More applicants, more grants, more research opportunities.

And obviously, this is what all major universities want. But how do these universities get more applicants — and, more importantly, more accepted applicants to choose to attend their university?

Well, they incentivize these students. And these incentives usually come in the form of scholarships.