Provost's Office: Memorandum
To: All Faculty and Staff
From: Dr. Mark Greenberg, Interim Provost
Subject: Record-High Student Persistence at Drexel
Date: 05 November 2008
Colleagues,
I write to celebrate the efforts of faculty and advisors, academic administrators and mentors, tutors, and office personnel who every day make learning at Drexel something our students appreciate. They appreciate it enough to return, year after year, to complete their education. Amidst the economic gloom and anxieties about our economy, I write with some very good news about Drexel: Our freshman persistence for the 2007 freshman class is 85.6% up from 82.6% just a year ago and a record for the University. This is the percentage of 2007 freshmen, measured at week six of fall term, 2008, who are still matriculating at Drexel. In light of the fact that these students' continued enrollment comes after the tightening of the student loan market, after the overall scandals in lending and the virtual disappearance of liquidity from the financial markets, makes this number astoundingly high. It also predicts a higher retention rate for years two to three-and a higher graduation rate, as well.
Why is this accomplishment during this year so important? Because retaining able and committed students is one of our core missions. And in the current economic environment, we well could have lost 3% or more of our students from last year's rate instead of increasing retention by 3%. Happy and engaged students are successful students, and working with them is the reason most of us chose careers in higher education. They are our best ambassadors, and they will one day be our alums, products of your expertise, nurturing, patience, and pleasure as you watch them thrive. Some may go on to save lives or create successful businesses or develop new technologies, to teach or study the law; all will owe something of themselves to Drexel, to you.
And there are tangible benefits to the institution, as well. The increase in tuition revenue alone is some $1.7 million per year-almost $7 million over these students' next four years on campus, should all remain with us. And there are ancillary revenues, as well. With such funds we have invested in enhanced advising, in new faculty, in faculty development efforts, in enhanced classrooms and technology, and in an enlightened and effective comprehensive Human Resources-led approach to developing staff. We are orienting, mentoring, assessing, and celebrating achievement among our employees because we understand that serving our colleagues well promotes serving our students well.
Our efforts are paying rich rewards. The results should be a source of pride to all who have introduced and admitted these students to Drexel, who work with them, who schedule their classes, who arrange for their housing and financial aid, and who clear them for graduation. We are shooting for an even higher rate of persistence for next year. With your efforts engaged and a little luck with the economy, we will achieve it.
With great appreciation,
Mark Greenberg