The Headcount and FTE report compares the Full-Time Equivalent (FTE) enrollment with the official headcount enrollment numbers. The Full Time Equivalent (FTE) is calculated by dividing the number of credits enrolled by 15.0 for undergraduates. For Fall 2004 and earlier, FTE was computed using a denominator of 15.5 for undergraduates. Graduate student FTE is calculated using a denominator of 9.0 credits, while the professional student FTE is the same as the headcount.