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Colleges in states where recreational marijuana became legal over the past decade saw a significant but short-term boost in applications from top-notch students. They also got more applications overall. 

In the year that a particular state legalized recreational marijuana, the number of applications for that state’s colleges grew by about 5.5% more than colleges in states that did not legalize it. This is the third straight year of this positive trend, with the total three-year increase hitting 54%. 

Public colleges and universities benefited more than private ones, though applications for private schools rose in states where recreational marijuana became legal as well. In addition, schools received more applications from high-achieving students. Standardized test scores for the top 25% of applicants spiked along with the quantity of applications.

Source