What I don't understand is why did this become a big deal? Private universities don't have to reject specific students or abide by specific gpa guidelines? Why couldn't the university just say they decided to take the kid even though she doesn't have the grades others do? It is a private university.
The reason certain private universities are tougher than others to get into is because they put those standards to help with their rankings and prestige. Its why they give academic scholarships to students they want those students even more than the others to help with rankings and prestige.
So if a university wants to accept anyone, why can't they? It doesn't matter if the reason is money, they don't have to explain. If the University believes the revenue is worth the hit it will take to their reputation then it should be their right. Already students have an advantage of getting into great universities by having a lot of money (they can pay for the university without a scholarship or financial aid).
I realize the forging of documents is what was the legal issue and there should be some punishment, but I think it should be a slap on the wrist compared to what the University should get since staff where the ones that told them to.