I could see a company doing something shady like collecting metrics on students across different types of classes to eventually sell to someone. I can't for the life of me understand why that kind of data would be valuable, but I'm sure someone could make use of student metrics for advertising purposes.
A company that creates discussions boards for courses is already doing that. They are called Piazza (https://piazza.com/) and used the student data they have been collecting to Piazza Careers: https://recruiting.piazza.com/
It has caused some heated discussions at our university regarding student privacy.
Yep, I used Piazza extensively in school. As a tool, it was actually pretty good and students used it heavily. Unfortunately when they shifted their focus to selling students to top companies it soured the taste in my mouth a bit.
I see a lot of positives in that system, but it feels like a way for companies to more easily ignore candidates who aren't from top schools. My concern would be further ostracizing qualified students who don't go to top schools.