How do i interpret this correlation Does this mean that as long as the student has good gpa and good gre even though his Alma Mater's prestige is low - he will get admitted in a college

Any additional things i can interpret from below ?
No. From this correlation matrix you cannot draw the conclusion that


  as long as the student has good gpa and good gre even though his Alma Mater's prestige is low - he will get admitted in a college


The reason is that correlation is a measure of association between single pairs of variables. The conclusion you draw above - on the contrary - is based on a combination of three different variables plus the outcome variable.

If you want to get an estimation of the probability that a student will be admitted to college based on her gpa, gre and prestige the right way is to create a logistic regression model. Here's an example in R (provided that admit is a binary variable, with admit=1 indicating that the student is admitted and admit=0 that she is not admitted)

model &lt;- glm(admit ~.,family=binomial(link='logit'),data=data)


With this fitted model you can then compute the probability that a student is admitted given her particular combination of gpa, gre and prestige.