"Admissions standards."
Which simply mean, how did you do in your grades, and on the ACT or the SAT?
Those in turn predict exactly one, and only one, thing. They predict how you will do when you take tests.
You can look at the leaders in any industry, including leaders across UL, and most of them did not have great grades or scores.
On the other hand I have worked with a number of people, some of them MDs, with impeccable scores. And they were morons.
"Standards" are, too often, simply ways to sniff at those who didn't get in.
The way we use them now, they're not of much use.