FAMU Retention

Report
FAMU Retention
Cost-Benefit
Board of Trustees
Finance Committee
May 5, 2014
1
Impact of Retention
on
Performance Base Funding Metrics
• Performance Based Funding Metrics
Metric 1: Percent of Bachelor's Graduates Employed and/or Continuing their
Education Further 1 Year after Graduation
Metric 3: Average Cost per Undergraduate Degree to the Institution
Metric 4: Six Year Graduation Rates (Full-time and Part-time FTIC)
Metric 5: Academic Progress Rate (2nd Year Retention with GPA above 2.0)
Metric 6: Bachelor's Degrees Awarded in Areas of Strategic Emphasis (includes
STEM)
Metric 8a: Graduate Degrees Awarded in Areas of Strategic Emphasis (includes
STEM)
Metric 9: Percent of Bachelor’s Degrees without Excess Hours
2
Retention Expenditures
(FY 2013-2014)
• Retention Budget
– $1.1M E&G (Tuition Differential)
– $2M Title III Grant
3
Current Retention Efforts
•
•
•
•
•
•
Established Office of University Retention (2010)
First Year Experience Program
Academic Success Programs
Restructured Access Summer Bridge Program
Debt Management Program
Faculty Development
4
Benefits of Higher Student
Retention
• High graduation rates
– Better quality of life for students
– Increased career opportunity & earning
potential
•
•
•
•
Reduction in student debt
Improved Institutional Image/Standings
Increased revenue
Increased Performance Funding
5
Fiscal Impact of
Student Attrition
•
•
•
Attrition
# of
Students
Revenue
Loss
First Year
400
$4.6M
Overall
1,200
$10.3M
Annual Attrition (based on 3-year average, 2009-2011)
Calculation based on tuition, fees, housing, and meal plan
Average Revenue Dollars per FTIC Student:
•
•
$ 9,894.60 (In state)-approximately 87%
$21,835.40 (Out-of-state)-approximately 13%
6
Return on Investment
Retention Revenue Scenario
Retention
# of
Students
Revenue
Revenue
Student
Persistence
First Year
50 FTIC
$572,000
$1.2M
Non-Freshman
75
$540,000
$1.3M
$719,000
$1.7M
Students on
SAP
•
•
100 Less
Calculation based on tuition, fees, housing, and meal plan
Average Revenue Dollars per FTIC Student:
•
•
$ 9,894.60 (In state)-approximately 87%
$21,835.40 (Out-of-state)-approximately 13%
7
Challenges & Opportunities
• Expand program and services for highperforming students
• Effective Recruitment
• Enhance the wrap-around services for first-year
students, student athletes, and academically atrisk students
• Leverage the full power of the technology
enterprise to better meet the needs of all
constituents
8
Challenges & Opportunities
• Employ innovative supplemental
instruction strategies
• Enhance Campus Facilities
– State-of-the-art classrooms and learning
spaces
– Centralized student services facilities
• Extend faculty and staff development
efforts with an orientation towards student
success
9
Questions
10

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