College Guidance: What To Do When A Mediocre Performer Says "Harvard"

High school teachers frequently talk to kids about college. English teachers, in particular, are asked to examine admission essays. My question for today is: What is a teacher supposed to do when a kid with mediocre grades claims he wants to go to a top university? Or asks for help with an application to same, and the draft isn't all that impressive?

Example from real life:

The reasons that I have for wishing to go to Harvard are several. I feel that Harvard can give me a better background and a better liberal education than any other university. I have always wanted to go there, as I have felt that it is not just another college, but is a university with something definite to offer. To be a "harvard man" is an enviable distinction, and one that I sincerely hope I shall attain.

That's it. That's the whole essay, by a student with so-so grades.

As a teacher, how would you respond? I'll post my thoughts later, in the Comments.