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Parent Paid $6.5 million for Child Admission

This sounds really insane - paying a college counselor $6.5 million for your child to get admission in Stanford. Yes, somebody priced the value of Stanford admission as $6.5 million. China has excess of money to spend in the world.

A family from China paid a college counselor $6.5 million for help securing a spot at Stanford University, according to a person familiar with the matter, and connected to the counselor via a Morgan Stanley financial adviser, according to that person and another individual with knowledge of the situation.