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AFFORDABILITY VS. FINANCIAL AID: CRAFTING A NEW STUDENT RECRUITMENT MESSAGE

©ROBERT E. JOHNSON, PH.D. 2014

Robert E. Johnson, Ph.D.President, Bob Johnson Consulting

ACT Enrollment Planners Conference, Chicago, IL

July 24, 2014

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Who is Bob Johnson?

• Website reviews from a marketing perspective• “Top Task” research partner w/Gerry McGovern at Customer Carewords, Ltd, Dublin, Ireland

• 75 higher education clients since 2006• “Your Higher Education Marketing Newsletter”… 3,700 subscribers

• @highedmarketing… 6,600+ Twitter followers• “Higher Education Marketing” blog• Symposium for the Marketing of Higher Education… chair, 1994 to 2003

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AN NEW AFFORDABILITY ENVIRONMENTRequires serious “affordability” content.

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Chronicle of Higher Education…http://bit.ly/1l3n516

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From the Department of Education…http://collegecost.ed.gov/catc/

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Responses from 5 diverse schools…

• American University• Strayer University• Wellesley College• University of Findlay• Southern New Hampshire University• And 3 Appendices:

• Comparing competitive costs… 12 schools• Affordability to boost leads… 2 schools• “Affordability” without substance… 5 schools

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AFFORDABILITY: SERIOUS NEW CONTENT

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AMERICAN UNIVERSITYReducing tuition increases and merit aid.

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American U. gets serious…http://www.american.edu/initiatives/collegeaffordability/

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Reducing merit-based aid…http://www.american.edu/initiatives/collegeaffordability/how-financial-aid-stacks-up.cfm

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Lower loan default rate…http://www.american.edu/initiatives/collegeaffordability/taking-charge-of-your-college-costs.cfm

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Decreasing cost increase levels…http://www.american.edu/initiatives/collegeaffordability/how-AU-is-addressing-college-costs.cfm

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STRAYER UNIVERSITYMany ways to reduce cost of a degree.

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Starting on the home page…http://www.strayer.edu/

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Add unusual benefits…http://www.strayer.edu/strayer-university-tuition-reduction

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“Two ways to save money”…

For transfer credits… For Strayer courses…

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Reduce credits for a degree…http://www.strayer.edu/admissions/get-credit-your-life

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Unusual start to Financial Aid page…http://www.strayer.edu/tuition

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WELLESLEY COLLEGE“Basic financial question” to a FAFSA-free EFC estimate.

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Before the NPC, a “quick” first step…http://www.wellesley.edu/admission/affordable/myintuition

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#1… Demographics

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#2… Total family income

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#3… Savings & checking accounts

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#4… Home equity

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#5… IRAs, 401Ks and such (optional)

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#6… Value of investments

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#7… Other children in college

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Your expected family contribution…

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UNIVERSITY OF FINDLAY5 affordability myths.

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Myth #1… Public vs. private costhttp://www.findlay.edu/offices/student/financialaid/Affordability-Myths

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Myth #2… Family income

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Myth #3… Completion times & rates

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Myth #4: Debt level

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Myth #5… Default rates

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SOUTHERN NEW HAMPSHIRE UNIVERSITYCollecting 10 cost-related press releases.

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Scroll for cost-control press releases…http://www.snhu.edu/admission-costs.asp

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Pick the ones that interest you…

THANKS FOR BEING HERE IN CHICAGO!

Bob Johnson, Ph.D. (248.766.6425)

bob@bobjohnsonconsulting.com

www.bobjohnsonconsulting.com

@highedmarketing on Twitter

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APPENDIX 1:COMPARING TUITION COST“A small tuition is the best tuition”

Eastern Washington University

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University of Wisconsin-Superior…http://www.uwsuper.edu/admissions/cost/compare-tuition-and-cost.cfm

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Strayer University…http://www.strayer.edu/strayer-university-tuition-reduction

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Eastern Washington University…http://www.ewu.edu/undergrad/afford

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University of Texas at Austin…http://www.utexas.edu/tuition/national.html

For state residents… For out-of-state students…

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State College of Florida…http://www.scf.edu/StudentServices/Tuition/TuitionandFeesComparison.asp

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Elgin Community College…http://elgin.edu/students.aspx?id=148

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Guilford Technical Community College…http://www.gtcc.edu/about-gtcc/public-disclosures/tuition-comparison.aspx

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Eastern New Mexico University…https://www.enmu.edu/future-students/tuition/compare.shtml

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Austin Community College…http://www.austincc.edu/tuition-and-financial-aid/compare-costs

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Texas Women’s University…http://www.twu.edu/bursar/cost-comparison.asp

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Linfield College…http://www.linfield.edu/dce/tuition-comparison.html

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Nicolet College…http://www.nicoletcollege.edu/future-student/high-school/value/comparing-costs/index.html

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Western International University…http://west.edu/affordability/tuition-comparison-guide

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http://www4.lehigh.edu/admissions/undergrad/tuition

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APPENDIX 2:AFFORDABILITY TO BOOST LEADS…

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UNIVERSITY OF MARYLAND UNIVERSITY COLLEGE

Using a tease to get a lead at UMUC… http://bit.ly/18IBXxn

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Forcing me to a PDF…http://www.umuc.edu/students/admissions/transfer/upload/10-great-ways-to-pay-for-your-education-brochure.pdf

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The good… and the not so good

• Prominent placement of monthly no interest tuition payment

• But what is the “low nonrefundable enrollment fee”?

• And the link here makes me link again to another page. Link direct.

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UNION INSTITUTE & UNIVERSITY“Affordable” as a teasing benefit.

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An online ad from March 18…

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Program benefits include “Affordable”…http://bit.ly/1qRLGqE

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Auto response: no links to benefits

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Academics: “affordable” still missing…http://www.myunion.edu/Academics.aspx#prettyPhoto

APPENDIX 3:AFFORDABILITY: WORDS W/O SUBSTANCE

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Lost on a traditional financial aid page…http://www4.lehigh.edu/admissions/undergrad/apply

Start here… End here…

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“Cost & Affordability” = Financial aid infohttp://www.bradley.edu/admissions/freshman/cost/

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“Affordable” commitment w/o details…https://www.utsystem.edu/affordability/

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“Most affordable” claim, no specifics…https://www.lewisu.edu/affordability/outstandingvalue.htm

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The mission statement, PR approach…http://rwu.edu/about/partnerships-initiatives/affordable-excellence/our-approach