1. Solving the Retention Puzzle — Action plans for retention success Tools you can use to motivate staff and create a structured retention plan or “It is about Students” Carol Buchli USA Funds Debt Management Consultant MASFAA, Des Moines, IA October 17, 2006

2. 2 Agenda Retention challenges Use an attention-getting formula A model to solve the puzzle for your institution Moving your campus to action

3. 3 Who is really at risk at your institution? Why is it difficult to get staff and faculty to organize around the idea of retention?

4. “An Attention-Getting Attrition Formula” developed by Dr. Roy Robbins ©National Academic Advising Association. How do you calculate the cost of attrition?

5. 5 The high costs of recruiting new students motivates administrators to identify ways to retain students who already have enrolled (Brooks-Leonard, 1991). Student attrition costs the institution in terms of : –Lost tuition revenue. –Lost supplemental revenue. –Lost reputation.

6. 6 How do you calculate the cost of attrition? For a single student taking 15 credit hours per semester of freshman year: –15* hours X ($100.00)** = $1,500. * Enter your institution’s credit hour per semester requirement. **Enter your institution’s tuition per credit hour rate here.

7. 7 How do you calculate the cost of attrition? Loss of this single student over the next three years. –(6 semesters @ 15 credits per semester) = $9,000.

8. 8 How do you calculate the cost of attrition? Multiply by attrition rate for first-time freshmen (National average is 33%). If you had an incoming class of 1,200 and your attrition rate is 20% you would lose 240 students at a cost of $2,160,000.

9. 9 How do you calculate the cost of attrition? Cost effective. –Using the example, a 5% drop in attrition would earn the institution over $500,000 in revenue. –(1,200 students x 15% = 180; 240 – 180 = 60 students; 60 X $9,000 = $540,000).

10. 10 How do you calculate the cost of attrition? The information on the Cost of Attrition was adapted from “An Attention-Getting Attrition Formula” developed by Dr. Roy Robbins ©National Academic Advising Association. As an active member of NACADA, Dr. Robbins has served as a member of editorial board of the NACADA Journal, Chair of the Research Committee, and member of the Consultant’s Bureau. Dr. Robbins developed his attrition formula over a multi-year span, and the information was used with permission.

11. 11 A model for solving the retention puzzle

12. 12 What’s working? “A college worthy of commendation works as hard at holding students as it does at getting them to the campus in the first place.” Dr. Ernest Boyer

13. 13 What’s working? Some students will stay in school no matter what you do. Some students will leave school no matter what you do. Some students will allow you to influence their decisions to stay or leave. High Attrition Probability Low Attrition Probability

14. 14 Institutional Assessment: Who are you? Student Interventions: How do you show students you care? Student Assessments: Who are your students? Institutional Interventions: How proactive are you? What’s working?

15. 15 First-year retention rates Performance gaps Graduation rates Placement rates Alumni giving Loan default rates What’s working?

16. 16 Entering risk factors Motivation risk factors Integration risk factors What’s working?

17. 17 Entering Student Variables + Student Motivation Variables + Student Integration Variables = Student’s Likelihood to Persist A Conceptual Model of Retention: What’s working?

18. 18 What’s working? Entering student variables –Academic history. –Geographic and demographic variables. –Test scores. –Financial-aid information. –Initial impressions of institution. –Enrollment factors.

19. 19 What’s working? Student motivation variables –Freshman-survey data. –Academic and social motivation data. –English-placement test. –Math-placement test. –Academic plans.

20. 20 Student integration variables −Residence status. −Student satisfaction data. −Predicted GPA. −End-of-term grades. −Affiliations. −Credit hours attempted. −Credit hours completed. −Status. −Major. −Residence-hall assignment. What’s working?

21. 21 Need Level 1 2 3 4 5 V. High Need 89% 86% 73% 74% 63% High Need 98% 85% 82% 78% 67% Med.Need 96% 85% 82% 78% 69% Low Need 93% 79% 88% 79% 72% Merit Aid 95% 88% 89% 81% 74% Full-Pay 100% 93% 80% 80% 77% Academic Preparation An example of correlating two entering student variables:

22. 22 Need Level 1 2 3 4 5 V. High Need 89% 86% 73% 74% 63% High Need 98% 85% 82% 78% 67% Med.Need 96% 85% 82% 78% 69% Low Need 93% 79% 88% 79% 72% Merit Aid 95% 88% 89% 81% 74% Full-Pay 100% 93% 80% 80% 77% Academic Preparation An example of correlating two entering student variables:

23. 23 Retention committee Student success goals Student tracking Student feedback plan Advisor training Quality service training Faculty/staff awards Campus celebrations What’s working?

24. 24 Intrusive advising for freshmen Extended orientation Individual student success plans Mentoring for all Wellness Financial guidance What’s working?

25. 25 -First-year retention rates -Performance gaps -Graduation rates -Placement rates -Alumni giving -Loan default -Entering risk factors -Motivation risk factors -Integration risk factors -Retention committee -Student success goals -Student tracking -Student feedback plan -Advisor training -Quality service training -Faculty/staff awards -Campus celebrations -Intrusive advising for all freshmen -Extended orientation -Individual student success plans -Mentoring for all -Wellness -Financial guidance What’s working?

26. 26 Successful retention and default-prevention practices provide students with the tools they need to survive – before they know they need them.

27. 27 What’s working? The most-successful programs: –Are highly structured. –Are interlocked with other programs and services. –Rely on extended, intensive student contact. –Are based on a strategy of student engagement.

28. 28 What’s working? The most-successful programs: –Focus on the emotional and intellectual needs of students. –Track and monitor student progress in all areas. –Celebrate champions for student success.

29. 29 Student Support Services Enrollment Services Academic Services Our paradigm for retention solutions

30. 30 Our paradigm for student success

31. 31 How do you develop an action plan for retention?

32. 32 How do you develop an action plan for retention? Action plan components. –What are we going to do? Describe in detail activities that are generally quantifiable and measurable.

33. 33 How do you develop an action plan for retention? Action plan components. –When are we going to do it? Provide timetables that clearly show key dates and deadlines.

34. 34 How do you develop an action plan for retention? Action plan components. –Who will be responsible? Assign individuals tasks and actions.

35. 35 How do you develop an action plan for retention? Action plan components. –How much will it cost? It does NOT have to be expensive if you build on activities already in place. Investigate resources available from your partners. Don’t forget to account for staff time, supplies and other resources.

36. 36 How do you develop an action plan for retention? Action plan components. –How will we know when it is accomplished? Establish outcomes for each individual task so that you can monitor progress towards your overall goal.

37. 37 Your Action Item Think of an action item that would immediately begin to improve retention on your campus? What would a completed action plan for this item look like? Who is involved? What is your timeline?

38. 38 Using the Tools How can you make use of these three tools on your campus?

39. 39 Thank you! cbuchli@usafunds.org 866-497-8723 ext 7877