During the last 10 years, a group of selective universities in Chile has started to implement admissions programs that consider the achievement of students in the context of the educational opportunities they have had, thus reducing reliance on the national college entrance exam. This study explores the program theories in a sample of these programs and their effects on access and academic outcomes. We use a mixed method approach: program theory is explored through the analysis of program documents and interviews, and the effects on access and outcomes are explored through descriptive and inferential statistics of institutional data. This study aims to contribute to the research exploring the evolution and outcomes of institutional admission reforms intended to tackle the problem of equity in higher education.