Declining Admissions Rates

I saw an interesting graph today on Mankiw's blog (link here) about admission rates at top US colleges.

The link doesn't specify if the numbers are undergraduate or graduate acceptance rates, but I'm assuming that they're talking about undergraduate acceptance rates. Also included in the post were acceptance rates from ten years ago at the universities.

Harvard: 12 %
Princeton: 14 %
Yale: 20 %
MIT: 27 %
Stanford: 19 %

The numbers almost make me feel better for not getting accepted into any of the said colleges. But on a larger scale, the issue of secondary education will be a large one for the United States in the years to come.