1. Private College Enrollment Funnel for Higher-Profile Lower Need Students

2. Median Sticker Tuition – 2009 (FY10) to 2011 (FY12) (IPEDS) Private Medians Public Medians $7,841 $10,067 $11,787 $12,682 $15,025 $21,784 2011 2010 2009 Source: IPEDS Data

3. Remaining Need After Grant for Enrolled Students 2005-2012

5. Median Parent AGI for Enrolled Aid Applicants 2004-2011 CPI-Adjusted Illinois Wesleyan Selected HCRC Clients: SewaneeColorado Bryn MawrBucknell EmoryKnox

7. Headcount approach Use historical data to predict prospect pool, admit rate, yield rate, final head count, tuition discount Use data to predict the per student NTR Calculate the estimated total NTR 550 students * $20,000 = $11m NTR

10. 7

11. acrk : 4 ndrk : 4 Optimal HCRC University Sample

12. acrk : 8 ndrk : 5 Past Peak HCRC University Sample

14. Headcount approach (redux) Calculate the estimated total NTR 550 students * $20,000 = $11m NTR Shrinking prospect pool + students with higher need = shrinking NTR 575 students * $20,000 = $11.5m NTR

15. New Student Enrollment Fall 2009 555 Fall 2010 618 Fall 2011551 Fall 2012530 Fall 2013569 5

16. 8

17. 7

18. A Replay of 2013 – Maximum Net Tuition Revenue (While still being equitable)

20. A Replay of 2013 – Maximum Net Tuition Revenue (While still being equitable)

21. Educational & General Expenditures