How Do Institutional and Student Cohort Characteristics Affect Retention Rates at 4-Year, Private Baccalaureate Colleges?

Retention rates are crucial for colleges and universities to consider, both in an effort to maintain their student body, as well as to compete in higher education ranking systems. This research aims to use data provided by The Integrated Postsecondary Education Data System to estimate the factors that affect the retention rates of private, four-year colleges classified by the Carnegie Classification of Institutions of Higher Education as Baccalaureate, both Arts and Sciences and Diverse Fields, using a time series cross-sectional model. Results indicated that five factors, out of the fifteen considered, were robust in determining retention rates. These were the 50th percentile ACT score of the student cohort, the student-to-faculty ratio of the college, instruction expenditures per student, the full time enrollment - or size - of the school, and if the school is an arts and sciences institution