LAC Tuition Exchange

<p>I teach at Franklin & Marshall College which is a 'tuition exchange' college. I have been on their web site and, as an obsessive parent, I have a good sense of which colleges my son has a better shot at getting a TE 'scholarship'. I have also talked to my coleagues and I have some sense as to the 'mechanics' of the process. I, however, have a few questions;
-outside of the fact that my college accepts a good number of exchange students, does the quality of the 'source' college (in my case, F&M) influence the probability of acceptance. I mention this because my son does not have a stellar academic record. We are looking at excellent LAC that have a higher acceptance rate - Sewanee, Centre, Hendrix, Hampden Sydney, Lawrence - and also a relatively high tuition exchange acceptance rate. Will the fact that F&M is a decently ranked and a desirable target college for their staff help.
-I noticed that in a 3 year period of time, some colleges vary substantially in the proportion of applicants that are granted 'TE'. Why does it vary so much, OR is it the case that the posted TE acceptance rates (on the TE web site) are not accurate?
-any other warnings/suggestions; that is, I have a B plus son who is interested in a BA in theatre, and it seems to me that we will have to apply to a lot of colleges to find one that both accepts him and grants the TE</p>