I'm pretty sure that the 45% number takes into account all the PNMs who register for recruitment (which is about 1500-1600 each year I believe) and then subtracts those who end up dropping or being cut for grades in addition to those who don't match with a house at preference round. The actual number of PNMs who attend preference round but don't receive a bid isn't nearly as high. Still, IU recruitment is grueling (but well-worth it at the end). If you have any questions, feel free to ask because I went through last year. This will be my first year recruiting girls to join our chapter so I am in super recruitment geek-mode right now.
