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I think the word "preferential" is not appropriate here by ufl

It doesn't say that legacy applicants have a greater chance of admission than a non-legacy applicant for a given level of credentials. It says that the portion of all legacy applicants admitted is much greater than the portion of all non-legacy applicants admitted.

This might be a measure of loyalty. That is, for ND compared to other schools, a greater number of highly qualified sons and daughters apply.

The article mentions this as a problem for achieving ethnic and economic diversity (which it is). It doesn't attempt to assess whether legacy applicants get preferential treatment.