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I like the way the University of Georgia does it. An all-out formal in the fall, and then a "structured informal" in the early spring. By "structured informal," there is a definite schedule, and PNMs who sign up are invited to every house that's participating. The parties are very informal - it could be a "Grey's Anatomy" viewing, ice cream, out for skating, whatever. But there is a beginning and an end.
Sororities are also free to informally pledge at any other time, too, as long as they have space. But the structured informal spring recruitment is announced, promoted, and defined so that anybody who didn't participate in fall and wants to join can try.
Retention - that is something we ALL need to work on. But a senior class that's 50% of its size as freshmen...that's pretty normal and would compare to the same size group of non-greeks.
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