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This study advances our understanding of admissions practices at selective postsecondary institutions by answering the questions of who gets in and why. Data from a newly-developed survey shed light on trends in admissions practices at elite colleges while interview data present the rationales for these practices from Deans and Directors of Admissions. An unusually high survey response rate and mixed-methods approach makes this study the most in-depth analysis of selective admissions practices to date. Findings reveal that admissions practices are highly systematic within colleges but inconsistent across colleges, that the rigor of one’s high school transcript is the most important selection indicator, and that applicants with the ability to pay full-tuition continue to receive preferential treatment.