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You’ve probably been hearing a lot of talk lately about the importance of “student retention.” A number of recent initiatives around the College of Arts, Sciences and Letters (CASL), including the First-Year Seminars (FYS) Program, have had improvements in retention as an important goal. Improved retention rates have both educational and financial benefits. The more we help students succeed in their academic and social transition to the University, the more satisfied they are with UM-Dearborn, and the more likely they are to stay enrolled. The longer students stay, the more likely they are to succeed and ultimately to graduate. And yes, higher retention rates bring more tuition dollars to the campus, and thus to CASL.
Here’s the economic power of improved retention: If just one student stays just one semester longer and takes the average course load of 11 credit hours, that translates into approximately an additional $3,000 in tuition income.
The First-Year Seminars Program is beginning to show evidence of having a positive effect on retention. The 2003 and 2005 cohorts of FYS students have retention rates 5.7% and 4.6% higher than for CASL FTIACs as a whole. (The rates for the 2004 and 2006 cohorts are 1.8% and .2% lower than for CASL FTIACs.) Through last Winter, the FYS Program has thus resulted in a net gain of eight students staying one additional semester.
In doing something to benefit our students, the College and the campus benefit financially. Investments in retention may be an academic version of doing well by doing good. |
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