Quoted from Peter Salins via Minding the Campus:
According to the most recent (2007) data, 45 percent of all colleges or universities, and 66 percent of public ones, have no admissions criteria at all. In the public sector - which accounts for three-quarters of all higher education slots - among the 34 percent of schools with some kind of admissions screen, 69 percent accept more than half of their applicants. Even among the remaining somewhat selective institutions, the majority either do not require admissions test scores or they accept most low-scoring applicants, with the result that the average verbal SAT for all college applicants is 532, and that for the math SAT is 537 (both out of a potential score of 800).