re: Standardized Tests (ACT,SAT) were supposed to be equalizers

I steer away from conflating the preparatory efforts of individuals with the equalizing nature of the tests themselves. Blaming the tests instead of the availability of prep resources is how you get to a place where you're lowering standards or curving based on arbitrary social factors, rather than targeting the root cause and remediating the resource gap.

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while lower income students can’t pay for the same.

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Complete bullshite… “lower income” students have waaaay more FREE resources to help, tutoring, and technology than other students.
The problem in your statement is that your “lower income” students don’t take advantage of it when they could. Nah, they sign up for classes, wait until refund checks go out and then bail. Rinse and fricking repeat…
As a college professor, ask me how I know this. I see it day in and day out.