We need to ensure that financial aid goes to the low-income students who need it the most. Selective colleges use far too much merit-based aid to offer tuition discounts to the well-heeled. Merit aid is affirmative action for the mostly white upper-middle class. Federal and state governments can curb such behavior through stipulations in bail-out bills and other tax-dollar appropriations requiring them to enroll more low-income students and be more transparent about where aid dollars go. Having access to such information will enable foundations and individuals to direct donations toward those colleges that help the needy the most.

We should require all colleges to have enrollments consisting of at least 20 percent Pell Grant recipients, which would bring about the admission of 72,000 additional qualified Pell students to high-spending selective colleges, where they’d make enrollments more diverse and have a much better chance of graduating than at nonselective institutions.

Finally, we should stop giving so much weight to standardized-test scores in admissions. They are part of an educational shell game that hides class and race inequality under a scientific veneer. They measure privilege far more reliably than they measure ability to graduate. As this spring’s annual administration of the tests was thrown into the air by social-distancing, we learned the lesson that colleges actually can judge applicants without assigning heavy weight to such test scores. In place of the SAT and ACT, we need to switch to diagnostic testing that ties tests to teaching and learning, rather than sorting students by race and class.

These changes would help to ensure that the chase for prestige is no longer the only animating force in higher education. We could move away from competition based on inputs and shift to evaluating colleges based on outcomes, such as completion, learning, and earning. We could reward student “strivers” — those who have greater academic achievements than would be expected given their family income and the quality of their K-12 instruction. We can shift the structure of higher-education governance and funding to the program level to encourage true transparency and accountability, thereby enhancing competition and cost reduction.

More will depend on the spirit than the content of these reforms. We need to be mindful that meaningful reform will only come when we get beyond the merit myth that justifies the pious elitism at the core of our higher-education system. Higher education pretends to connect merit with opportunity, but it in fact serves to preserve or compound the advantages or disadvantages that people had as children. It causes as much as it cures of what ails this nation, including widening income gaps and social divisions. The perception of educational merit that colleges have built and reinforced has become a fig leaf for deep-seated racism and class-based elitism. It is the armor for a permanent new class of the well-educated, well-paid, and powerful.

Covid-19 and the economic and demographic changes that will follow, left to themselves, will only deepen inequality. But new realities can be an occasion for new choices. The options are clear: We can double down on the merit myth or make our colleges true instruments of upward mobility.