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Pitt has plans to increase students by 3,200 within 5 years

Need to balance the budget. A larger percentage will be out of state, paying the higher tuition bill.
Pitt's budget is balanced, unlike some schools nearby with large deficits.

However, undergrad tuition is the second largest source of university income. Over the last 10 years, Pitt's undergrad growth has been about 8% (which includes about a 45% growth in out of state students). The growth target is an overall 9% over the next 4 years. Maintenance of current selectivity and student quality, say by targeting better yield numbers, seems a reasonable probability based on the large rise in applications.

Pitt's grad program numbers have been down, almost 10% over the last decade while peer schools have typically grown, so the planned 15% increase for grad students is not surprising. And on-line grad programs are primarily about income generation, which Pitt is leaving $ at the table by having few on-line offerings, but you have to balance that with maintaining quality control.

You have a choice to get more selective or get bigger. Pitt is choosing the latter. The targeted growth is not character changing for the institution.

From an athletics perspective, being bigger projects more power and getting bigger vs more selective is where you want to be from a conference realignment point of view.
 
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Maybe this is a question for @CrazyPaco , but do they plan on creating more scholarships / financial aid opportunities for out-of-state students to help with applicant yield %?
I don't think specifically for out-of-state students. If I had to guess, they probably plan to create a bigger pool of need-based help. They are targeting more Pell-type students as this aligns with both the institutionally stated mission and the criteria showing up in more rankings, and I'd guess this targeting would be without regard to residency.

Pretty much Pitt routinely discounts out-of-state tuition down to in-state levels as part of their recruitment. I don't think they're necessarily going to target out-of-state students with more merit-based money derived from any greater pool of tuition income. And while out-of-state students are important, I think Pitt is probably currently comfortable with how it is recruiting in that space.
 
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