Two years ago, Drexel University began accepting applicants through the Common Application to boost its retention and graduation rates. The strategy has proven successful so far; this year, their retention rate has risen 2 percent and their yield rate increased from 8 to 13 percent.
According to The Triangle, Drexel stopped using “VIP applications" — application forms that are pre-filled, short and often without a cost — in favor of a Common Application with a $50 fee. Although using VIP applications can increase the size of the applicant pool, the strategy often fails to reflect candidates’ actual interest in the school.
During the time Drexel was using the VIP applications, its number of applicants shot from 12,500 to more than 50,000. Since switching to the Common Application, the school has seen its number of applications almost halve to 28,500 applications in 2015. However, the school found that making fewer offers of admission to more interested students improved its yield rate.
Already, the school is a quarter of the way to its goal of increasing its retention rate by 8 percent. Further results of the switch will become more conclusive in the following years when more data is available.
