Notes
*Suppose a school with 1000 students has a cost/student of 60k for a total budget of 60m. A missing first year class might represent 250 x 15k = 3.75m or about 6.5% of budget. A school of, say 4000, with a more efficient cost/student of 50k for a total budget of 200m could lose net tuition of 1000 x 15k = 15m or about 7.5% of budget.
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