And at $75 per application, Harvard could stand to benefit too, in the form of more revenue.

Already, Harvard alone makes nearly $3 million in gross profits off of rejected applications each year, according to a new study conducted by UCEazy, a company that assists first generation immigrants with the college application and admission process,

Over 600 public and private universities in the U.S. were included in the study, which used data gathered by U.S. News and World Report. Statistics include data from first-time freshman undergraduate applicants and show that all told, universities are making over $200 million, annually, from rejected college applications — many from students who are unqualified or under-prepared.