Download - Affordability vs. Financial Aid: Crafting a New Student Recruitment Message

Bob Johnson Consulting, LLC 1

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

Bob Johnson Consulting, LLC ... @HighEdMarketing 2

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


AN NEW AFFORDABILITY ENVIRONMENTRequires serious “affordability” content.


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


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


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


AFFORDABILITY: SERIOUS NEW CONTENT


AMERICAN UNIVERSITYReducing tuition increases and merit aid.


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


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


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


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


STRAYER UNIVERSITYMany ways to reduce cost of a degree.


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


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


“Two ways to save money”…

For transfer credits… For Strayer courses…


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


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


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


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


#1… Demographics


#2… Total family income


#3… Savings & checking accounts


#4… Home equity


#5… IRAs, 401Ks and such (optional)


#6… Value of investments


#7… Other children in college


Your expected family contribution…


UNIVERSITY OF FINDLAY5 affordability myths.


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


Myth #2… Family income


Myth #3… Completion times & rates


Myth #4: Debt level


Myth #5… Default rates


SOUTHERN NEW HAMPSHIRE UNIVERSITYCollecting 10 cost-related press releases.


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


Pick the ones that interest you…

THANKS FOR BEING HERE IN CHICAGO!

Bob Johnson, Ph.D. (248.766.6425)

[email protected]

www.bobjohnsonconsulting.com

@highedmarketing on Twitter

Bob Johnson Consulting, LLC... @highedmarketing 38


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

Eastern Washington University


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


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


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


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

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


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


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


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


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


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


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


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


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


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


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


APPENDIX 2:AFFORDABILITY TO BOOST LEADS…


UNIVERSITY OF MARYLAND UNIVERSITY COLLEGE

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


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


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

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

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.



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


An online ad from March 18…


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


Auto response: no links to benefits


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

APPENDIX 3:AFFORDABILITY: WORDS W/O SUBSTANCE



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

Start here… End here…


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


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


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


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

Download - Affordability vs. Financial Aid: Crafting a New Student Recruitment Message

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