New data early reports from universities and colleges across the country suggests that there will be record lows in acceptance rates of applicants for admission to the 2011-2012 academic year. Elite private universities such as Harvard and Stanford admitted as few as 6.17% and 7.07% of applicants, respectively. Many public universities, such as UCLA, admitted as few as 25.28%. These numbers, of course, indicate that there are record highs in the number of applicants seeking university admission.
The Choice blog at the New York Times has a chart showing the early data.
A related forum debate at the New York Times provides interpretation of these numbers, as well as the broader the admissions process.