http://www.mindingthecampus.org/2010/09/the_underperformance...
It turns out that "underprivileged" people actually do worse than what IQ and other academic measurements alone would predict.
If universities actually wanted to accurately choose the students most likely to succeed, they would penalize blacks, hispanics, males and people with low family income.
Second, IQ and race is a highly studied area and the differences are likely to do with many of the exact same factors that lead to socioeconomic inequality between the races.
If this is true, you should be able to run a multiple regression analysis which takes into account those "exact same factors" as well as race, and which accurately predicts outcomes. Further, the coefficient on race should be close to zero.
(This is the exact opposite of what is found in the studies I link above.)
Can you cite a study demonstrating this?
I haven't read every study cited there, though I've read a few. Which ones (you claim multiple) do you believe provide what I'm asking for?
Second, IQ and race is a highly studied area and the differences are likely to do with many of the exact same factors that lead to socioeconomic inequality between the races. Remember: IQ is correlated with general intelligence, but there are many reasons people do better or worse on IQ tests beyond that. You should really read the Wikipedia page on the subject and take a look at some of the cited research: https://en.wikipedia.org/wiki/Race_and_intelligence
Lastly, to answer your question, if universities just wanted the highest IQ students they would overlook American students entirely and fill their classes with East Asian, and maybe European students instead.