<p>This is a pretty misleading statement. Radford, Longwood and UMW are all state schools. I don’t know all the details of exactly when they went co-ed, but I don’t see how they had any choice in the matter in light of the VMI and Citadel court decisions.</p>
<p>Their tuition discount rate is a whopping 62%. They receive, on average, less than $8,000 per student in net tuition revenue and only $14,600 in total per student revenue and fees. They are spending $32,700 per student. They project the discount rate to increase in order to maintain current enrollment levels.</p>
<p>They have been spending from the endowment at 6.6%, well above the 4% to 5% range considered to be sustainable in light of long term returns and inflation.</p>
<p>Interestingly, they have aggressively pursued international students. Even though they have to discount tuition more heavily for internationals, these students tend to stay in school and graduate so they generate more 4-year revenue than domestic students who only graduate at a 62% rate. With a surplus of beds, the internationals provide much needed enrollment.</p>