Ours go to current students, alumni, and those with an offer of a place who haven’t started yet. Three times per year. We have the option for a digital or printed version – currently most of our community is subscribed to the printed version, so we mail a lot of magazines. We dedupe against household, so if there is a current student and an alumni, only one copy will go to the house, and it’s addressed to the whole family. No cover letter is included.