The purpose of this study was to analyze the Tennessee State University (TSU) fall 2005 Freshmen Cohort (N = 1205) based on the variables of race, gender, persistence, retention and graduation, as well as to examine the impact of the newly implemented Complete College Tennessee Act's (CCTA) funding formula component on the university's budget appropriations. The data were analyzed and reviewed via the utilization of Microsoft Excel Pivot Statistical Analysis. Pearson's Product Moment correlations were used to test the relationship of race and gender to persistence, retention, and graduation rates. Descriptive statistical procedures were used to analyze the data and tables were used to display the data. The data revealed that TSU would have received a loss in funding of $1,647,409.00 (12%), if the CCTA had been implemented in 2005. Equally, the relationship between persistence and retention was found to be statistically significant at the 0.01 level. Students who persisted from semester to semester were more likely to be retained. The relationship between retention and graduation was found to be statistically significant at the 0.01 level. Students who were retained from fall to fall were more likely to graduate. The relationship between retention and gender was found to be statistically non-significant at the 0.05 level. Students who were retained from fall to fall were not more likely to be retained based on their gender. The relationship between graduation and race was found to be statistically non-significant at the 0.05 level. Students who graduated were not more likely to graduate based on their race. [The dissertation citations contained here are published with the permission of ProQuest LLC. Further reproduction is prohibited without permission. Copies of dissertations may be obtained by Telephone (800) 1-800-521-0600. Web page: http://www.proquest.com.bibliotheek.ehb.be/en-US/products/dissertations/individuals.shtml.]