I'd leave out the 10% rule, as I assume UT football, a Top 5 program, can basically get whomever they want on their team, from valedictorians to mouth-breathers. Their grad rate has been atrocious the last few years. The don't even graduate half their players. True, they likely have 1-3 folks each year who leave early for the NFL, but even accounting for that, they still are at just under 50%. http://web1.ncaa.org/app_data/nH8egsr2009/703.pdf (If it means anything to them, Oklahoma is even worse). http://web1.ncaa.org/app_data/nH8egsr2009/522.pdf

We're also tied with UNC, which is academically similar to UM. From what I've gathered, the APR basically shows that the NCAA cares enough about academics that it produces a stat that shows that all but the bottom-bottomers athletically graduate most of their kids, or at least keep them for 4 years. I'd much rather the NCAA take into account graduation rates that ignore stuff like transfers (b/c guys like Mallet and Boren would have graduated/gone pro at UM if they had stuck around) and leaving early if the kid is drafted (when I was at UM in the early 00's, classmates were leaving school all the time to work for tech companies out West. They would have graduated, but they had offers today to do what they went to school for). This metric would certainly give you an imperfect metric, but it would probably be more elucidating than knowing FSU doesn't really graduate anyone but that everyone else in college sports seems to do enough to keep kids eligible and/or happy at their current school.

is someone with a lot of time. Purdue has info here, and as you expect, the formula doesn't work out quite the same, but at least we could use data like this to build comparative data sets. I suspect the other public schools have similar information. (Private schools and Pennsylvania schools do too. Hurrah for the Student Right to Know Act!) To save a click for those less interested, the data on that page covers students entering Purdue during the fall semester of academic years 1998-99 through 2005-06. For 2003-04, the last year for which six-year data would be somewhat available (I'm assuming this counts people in their 11th semester, fall 2009, and does not estimate or otherwise include people in their 12th semester, winter 2010), 71% have graduated so far, 18% withdrew on their own, 9% flunked out, and 2% are still around. After four years, 40% of that group had graduated, pretty much where the average has been over the given time. 66% graduated in five years, which is trending up a bit from the late '90s, and the 71% is also trending up a bit from the late '90s. (Two interesting bits: 1% of the students graduated in two years or less, and 3% of the 2003-04 group flunked out within a year.) Looks like roughly 4-6% of a given class graduates in six years. Woo underachievers! (Or was that just me?) Other schools: Indiana: didn't see breakouts of non-graduates, but they do include all campuses (Purdue's data is just for West Lafayette), and they break it out in lots of different ways. All Michigan state schools (PDF): We learn two things. One, UM rules academically. (OK, we knew that already.) Two, MSU, well, not so much. (35.6% in four years, 65.9% in five - can you say co-op? - and 71.3% in six years.) But it does include national averages, and looking either at UM vs. other state schools or UM vs. national average, Michigan does very, very well looking at the entire student body. Minnesota: At the Twin Cities campus, 66% for students as a whole. Northwestern: Yeah, they're smart and committed. Good thing I didn't go there. Roughly 90% in five years for every year except the incoming class in 1998, which dipped to 83.7%. 90-94% graduate in six years, including those 1998 folks. I smell an accounting error. Ohio State (PDF): Not good in the late '90s. We knew that, right? (I wonder how much of this is due to the size of the school: Texas also had a poor graduation rate, as did Minnesota.) Actually, they've done an excellent job of bringing up their rates, from a four-year rate of 34.9% for 1999 entry to 51.0% for 2005 entry. Their 2003 numbers were 46%, 71%, and 75%. Not bad. Penn State: Classic ASP pages, play with the URL variables to get the data you like. They display by graduation year rather than by entrance year, so in 2009, 63.1% had graduated in four years, 83.2% of 2004 entrants had graduated in five, 84.6% of 2003 entrants in six years. (Branch campuses: much lower.) Wisconsin: This page even has links to "enhanced" graduation, counting students who transferred and graduated elsewhere. For 2003 entrants and normal rates, 50%/79%/82% for four-year/five-year/six-year graduates. I couldn't find Iowa rates, and Illinois' page refused to load, although Google did point me to this PDF, which lists all AAU members and six-year rates for 2001 cohorts.