Over 35 years of retention theory and literature have acknowledged the importance of institutional and student profiles in accounting for cross-sectional differences in retention and completion rates between types of colleges and universities. The first "P" within a 4 Ps framework of student retention--"profile"--recognizes that an institution's retention and graduation rates are highly predictable, largely a function of the institutional and student profile, and are more a function of what the institution is rather than what it does. (Contains 1 figure.)