Many personal colleges depend on tuition for their annual budgets. As summer rolls in, colleges that are not on focus on to meet enrollment goals are rushing to fill the gaps. To prevent enrollment shortfalls heading into the summer time, some tuition-dependent private colleges are changing how they package financial aid designed for students. According to Inside Higher Male impotence, some colleges are offering more aid upfront to try to avoid shortfalls entirely. Others adjusted swaths of aid packages as it became clear they were unlikely to enroll as many students because they had planned by May 1, the traditional but decreasingly relevant decision day for students going to selective colleges.
Even colleges that have successfully met their enrollment objectives are worried about poaching by others still looking to meet their objectives, and are beginning to offer more college tuition discounts to lure students.
All are signs of the continued challenges faced especially by tuition-dependent and smaller private colleges, some of which remain under the weather for a variety of reasons, including the rebound of public college budgets and the wariness of several students to graduate with generous arts degrees that don’ to seem to offer a clear career path.
The National Association for College Admission Guidance keeps a running list of colleges – including major public educational institutions – that are still enrolling students. This can serve as a proxy for locating colleges that have failed to meet their enrollment targets.
This kind of is the case at Widener University, a private institution just outside Philadelphia with about 3, 200 undergraduates. Despite a good year in 2013 – it had its largest and most academically accomplished class associated with first-year students ever – the university has so far missed the enrollment goals for this fall. Edwin Wright, executive director of admissions at Widener, blames hot competition in the Philadelphia market. He said other private colleges offered bigger aid packages while Widener used same strategy that had worked well just a year earlier.
“I think my worst fearfulness has kind of come to fruition, ” Wright told Inside Higher Male impotence. “I’m finding a lot of schools within our region – some higher up in the food chain than I would consider Widener, some lower down within the food chain than I would consider Widener – really put cash out there. ”
The experience is being anecdotally confirmed across the country. “As I talk to my peer establishments, they are struggling to secure their lessons and the only way they are going to accomplish that is by leveraging more financial aid dollars, whether they are budgeted or unbudgeted, ” Concordia University-St. Paul’s senior chief of operations, Eric LaMott said in an Inside Higher Ed interview.
The majority of private undergraduate colleges operate under a “ high tuition, high discount” model, which can lead to confusion among applicants who believe the price the college says it charges is exactly what the college actually costs. Most colleges offer students huge discounts in the form of need-based aid for low-income students and “merit” aid for students from population groups they would like to sign up. Concordia is among the institutions that has cut its sticker price in hopes of attracting students scared off by the high prices other colleges charge, an approach that has so far seen mixed results at other institutions.
At Widener, Wright said he or she saw multiple colleges offer aid packages worth up to 80 % of their sticker price to the same college student with a below-2. 5 grade point average and a 940 on the SAT. Wright said Widener was responding to aid packages offered by other universities that were for “really average students. ”
“Every kid was in play and I think some people are just trying to meet numbers and not necessarily net revenue goals or discounted goals and just throwing caution to the wind to meet their enrollment focus on, whatever that may be, ” he informed Inside Higher Ed.
As summer approaches, Widener is usually 70 students short for an getting into class it had hoped would have 750 to 800 students. Wright said his office is sending out web survey after web survey to try to understand what students are thinking – whether they have already made commitments to look elsewhere or are still on the fencing about Widener.
Regarding two dozen Pennsylvania colleges, many of them in the Philadelphia market, also have space available, according to the NACAC survey, which is not comprehensive and can include colleges that may be looking to pick up a great student or two and are not really facing significant enrollment problems. La Salle University is a 4, 500-student Roman Catholic institution in Philadelphia that is looking to meet its enrollment goals. It has begun sending out revised aid offers to students who have been accepted but have not yet informed La Salle they plan to proceed somewhere else.
“ Right after May 1, we assess where we are in terms of deposits received and aid dollars that may still be obtainable and, if we have not yet achieved our enrollment goal, make a determination if additional or increased offers of assistance can be made, ” the university’s vice president designed for enrollment services, George Walter, said in a statement reported by Within Higher Ed. “This is what we have been doing now. ”
Some officials at colleges that have met their enrollment targets are involved about just this kind of activity if it results in poaching. Admissions officials and enrollment management consultants say bucks offered after May 1 tend to be less effective than money agreed to students earlier in the year – that it’s not worth it for colleges to keep financial aid bullets in their chamber for summer, but rather offer discounts upfront to make sure they are in a good place by May 1 .
Ursinus College, another personal college in the Philadelphia area, did meet its enrollment targets this year after adjusting its financial aid technique, said President Bobby Fong in an Inside Higher Ed Interview. The faculty budgeted for 440 first-year students, but by the end of last week, 514 students had put down a down payment. “This past fall, we modified our financial aid matrix to improve aid packages, but there was no remarkable additional infusion of aid, ” he said. “It was a technical, not strategic, adjustment. ”
As Ursinus increased the tuition, it raised its discounted – Fong said its discounted rate would go up by 2 percent – but it had additional money to spend on discounting because of the increased tuition.
Fong said the school also made sure accepted students had been getting more “touches” from Ursinus, including more on-campus events designed for would-be students and more calls to them from faculty members, current students, staff members and even trustees.
Some colleges, it seems, will be fighting for students through the summer – either to make sure they have enough in order to keep the students they have from melting off. Widener has not yet settled on the strategy, Wright told Inside Higher Ed.
College admissions officials and consultants said the very best strategy is to front-load aid investing.
“If you hold back cash and come back with a sweetener later on, it tends to have a diminished effect dollar-for-dollar – along with that, celebrate an atmosphere of negotiation, that is a challenge for all of these institutions, ” said Craig Goebel, a primary at the enrollment management consulting company Art & Science Group, in an Inside Higher Ed interview.
Kevin Crockett, the chief executive of the enrollment consulting firm Noel-Levitz, which advises about 250 colleges on financial aid and enrollment methods and tactics, said he’s seeing colleges dial up their aid offers in March and Apr with certain segments of their focus on population if it’s clear the school isn’t going to meet its goals.
They will, for instance, take a look at where a student puts their name on the Free Application for Federal government Student Aid, known as the FAFSA. If a student puts a college’s name higher on the list of those they might attend, it is taken as an indicator associated with preference. Millions of high school students and their parents probably have no idea this happens once they fill out that part of the form, yet colleges may use the information to change aid package offers.
Crockett said he would not advise their clients to change aid offers to individual families based on the so-called FAFSA position, but colleges he advises do look at FAFSA position designed for population segments – along with other aspects – and change their aid offers late in the enrollment cycle.
“You start to put those aspects together and say, ‘We may want to adjust the aid offer for the group of 100 students, ’ ” Crockett said.
Crockett said it’s not a good spot for colleges to stay, always trying to make their class with aid money.
He said colleges that have enrollment shortfalls year after year should reevaluate what they are doing and begin making broader changes by offering new programs. Integrity Officials at colleges that have hit their enrollment targets by May 1 may act differently from those that have not, W. Kent Barnds, a vice president who oversees enrollment at Augustana College, in Illinois, a college that did meet its enrollment targets simply by May 1 this year, told Within Higher Ed.
One particular needy student appealed this 30 days to Augustana because she didn’t have a worthy co-signer, indicating that the girl was going to be struggling to pay for college and would be assuming debt. Barnds said his financial aid director requested whether they should advise the college student to go somewhere else. Last year, when Augustana missed its enrollment target, Barnds said its officials would have accomplished everything they could to make sure the college student came; this year, because they met their goals, the college’s officials suggested the student enroll elsewhere.
“When you’re in a stronger position you can be a little bit more straightforward in doing the right thing, ” Barnds said. Likewise, the college is not going to battle over students, like another college student who came to Augustana with an aid offer from another college which was $1, 100 better. This year, Barnds said his college wasn’t going to sweeten the deal any more; last year, he or she said he would have tried to match the other offer because his enrollment missed its target.
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