Notable Numbers – April 2021

110% Growth in A’s Awarded

The Great Recession of 2007 seems to be transformative in the history of grading. In 2006-07, the average percentage of A’s awarded at INDEX schools was 30%, and that was pretty typical up to that point. Starting in 2007-08, schools began awarding more A’s, and in 2019-20, 63% of all grades were A’s — a 110% increase. (INDEX Data Visualizations)

Auxiliary Services Revenue Plummets 18%

Not surprisingly in this time of pandemic, Auxiliary Service Revenue (non-tuition revenue from current students) plummeted 18% last school year, driven by a loss of food service (-21%), extended day (-22%), and student transportation (-14%) revenues. (INDEX Data Visualizations)

22 Months of Operations Spending Covered

In 2014-15, INDEX Schools had an average of 16 months of cash and investments to cover operations, and 5 years later, schools now have an average of 22 months, or an increase of 6 months. This metric measures how long a school can operate on its most liquid assets without taking in additional revenue. Not a likely scenario for INDEX schools, but a good metric to track nonetheless. (INDEX Annual Report.)

Nearly 3/4’s of INDEX Schools Have Seen an Increase in Student Applications

73% of the responding 77 INDEX schools have increased or maintained new student applications this year, and the average increase among all schools is 13% (among schools with increasing applications, the average growth is 24%.) The Southeast is the surging, where 92% of schools have seen an increase in applications, and where the average increase is 29%. Everyone’s moving to Florida! (Data from March INDEX Admissions Flash Survey)

Roughly 2/3’s of INDEX Schools Have NOT Seen an Increase in Financial Aid Applications

65% of responding schools are NOT seeing an increase in FA applications, and among all schools, the average year-over-year change in FA applications is -2%. This is further remarkable, given the increased new student applications mentioned above. (Data from March INDEX Admissions Flash Survey)