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We sent out newsletters for a long time, but last semester it just got too pricey. We are actually in the process of setting up a page on our webiste to have a rolling newletter, updated every month with announcements from alumni and info on what the actives are doing. This is a lot cheaper, and I bet you can find a really nice alumni to foot the cost of it.
Also, in order to make sure that alumni relations are being handled why don't you create a posistion soley for that. We have an alumni correspondent and it works great.
heather, why don't you just email all of your alumni a list of all the people that are MIA. you may not get everyone, but its a start.
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