One major contributor to the shortfall in total enrollment is that we enrolled fewer first year students than planned. The enrollment goal for fall 2018 was 2,120 new students but our actual enrollment was 2,065 new students, a shortfall of 55. The target for transfer students in fall 2018 was 1,285—slightly more than the 1,264 who actually enrolled. Full Time Equivalents Student headcount is certainly the starting point for projecting tuition revenue, but ultimately the most important revenue driver is how many full-time equivalents (FTE) that translates into. The FTE calculation is simple: total student credit hours taken divided by 15. However even FTE is not a true revenue driver since we don’t charge tuition by total credits taken. Resident undergraduate students are charged $411.30 per credit for one or two credits. The per credit charge for the next eight credits is $205.65. There is no additional charge for additional credits beyond 10, up to 17 credits; a student taking 17 credits is charged the same tuition as a student taking 11 credits. In calculating tuition revenue, then, we use four categories of credit load; Nineteen + (overload), Full Time (10-18 credits), Six-Nine, and Five & Below. As you can see from the next graphic, all categories other than full-time decreased slightly from the prior year, but the Full Time category increased by 1.1 percent. This may not seem significant, but that translates to more than 150 additional full-time equivalents simply by more students taking more credits.
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