For many college students, the midterm exams and research papers are the fun part.
It’s true.
Pulling an all-nighter before the final to grasp that impossible Philosophy 101 concept is a cake-walk when compared to what you had to do to even get accepted into the school in the first place.
That is because the process required to land on the campus of your dreams is labor-intensive and full of stress. And, we are not even talking about the countless hours spent studying for the SATs or ACTs.
After you get back your scores to the standardized tests, the real fun begins. It’s then the time for filling out mind-numbing applications, completing obscure open-ended essay prompts, and becoming familiar with the ins and outs of U.S. postal policy.
If finally getting to campus is the proverbial “dawn,” the college application process is the “darkest hour” just before. Unless you are lucky enough to be only applying for college through The Common Application, the application process is strenuous, ridiculously lengthy, and unnecessarily repetitive.
And, while the college application process may be a thorn in your side, it is something entirely different for the institutions of higher education: a revenue stream.
Each college application is expensive. While most college application fees flirt around $50, many are near $90, and some are as high as $150. Take into account that most college hopefuls are unsure about where to attend and apply to a bunch of schools, and the application process often becomes a 4-figure expense.
On a yearly basis, most colleges collect millions of dollars in application fees. It is important to remember that this money is revenue for the colleges, not profit. We said college applications are “mind-numbing” and “ridiculously lengthy” for the students, but that is a hard truth that cuts both ways.
To ensure standards and reputations are upheld, colleges must ensure each and every application is thoroughly reviewed by a university employee – and rightfully so. The colleges transfer this cost onto the prospective student through application fees. Application fees also prevent students from applying to hundreds of schools, which would likely be the case if applications were free.
Using the most recent, fully-completed college admissions data, LendEDU has created three separate rankings: (1) The 500 Colleges That Make the Most Revenue Off Declined Applications*, (2) The 500 Colleges That Make the Most Revenue Off Total Applications*, (3) The 500 Colleges With the Highest Enrolled to Admitted Ratios.
The 500 Colleges That Make the Most Revenue Off Declined Applications*
Revenue off declined applications was calculated by subtracting a school’s total number of admitted students from the same school’s total number of applicants and then multiplying that number by the respective school’s application fee.
The 500 Colleges That Make the Most Revenue Off Total Applications*
Revenue off total applications was calculated by multiplying a school’s total number of applicants by the same school’s application fee.
The 500 Colleges With the Highest Enrolled to Admitted Ratios
A college’s enrolled-to-admitted ratio was calculated by dividing the total number of enrolled students by the total number of accepted applicants and then multiplying by 100. To be considered for this ranking, a college had to have over 2,500 applicants.
Methodology
All data used in this report originates from the Integrated Postsecondary Education Data System (IPEDS), a primary source for information on colleges in the United States provided by the National Center for Education Statistics.
Final release data for admission statistics, enrollment statistics, acceptance statistics, and application fees at individual colleges was relevant to the 2015-16 academic year. This was the most recent academic year in which the complete dataset was available; any subsequent academic years were yet to be completed. This application data refers to those who were applying to colleges with the intent of being an academic freshman during the 2015-16 year.
Revenue off declined applications was calculated by subtracting a school’s total number of admitted students from the same school’s total number of applicants and then multiplying that number by the respective school’s application fee. This number provided the total revenue off of applications where the students were not accepted to the respective institution.
Revenue off total applications was calculated by multiplying a school’s total number of applicants by the same school’s application fee. This number provided the total revenue off of all total applications, accepted or denied.
A college’s enrolled-to-admitted ratio was calculated by dividing the total number of enrolled students by the total number of accepted applicants and then multiplying by 100. To be considered for this ranking, a college had to have over 2,500 applicants. This ratio was indicative of how many students that were accepted to a certain school actually went to that school.
*All revenue numbers listed in the first two tables are projections made by LendEDU. Revenue projections in this report are most likely very close to the actual revenue numbers, but we are unable to confirm the precise accuracy of the listed revenue numbers. This is because most higher education institutions will waive application fees for prospective students on a financial-aid based basis. Additionally, many colleges and universities will offer discounted application fees if the application is filled out and submitted online.
LendEDU’s projections operate under the assumption that each and every applicant to a respective school had paid the full application fee for that respective school, which may not be the case. So, while the dataset provided us with accurate application, admissions, and enrollment statistics, it did not provide the exact number of applicants that had the application fee either waived or discounted. To reiterate, all revenue numbers in the first two tables are projections made by LendEDU, not facts.
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