It’s the time of year when colleges finally put high school seniors — and their anxious parents — out of their collective misery, American Public Media reports. By today, most schools have sent out their acceptance and rejection letters. Many selective colleges reported another record year for applications — which means they turned more students away. But not before collecting their application fees. … Take Harvard. It got 35,000 applications this year. Harvard says it waives the fee for more than 10 percent of applicants. Even so, at $75 a pop, that’s more than $2 million in fees. Director of admissions Marlyn McGrath says that covers a “very small part” of the costs of the admissions process. But that’s Harvard. A smaller school like Vassar College brought in a smaller windfall — about $380,000 in fees.

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