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Enrollment Mgt in Time of Challenge & Change

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Enrollment Mgt in Time of Challenge & Change

  1. 1. #NYSFAAA2012Enrollment Management in aTime of Change and Challenge Dan Lundquist October 10, 2012
  2. 2. Agenda: Questions & Answers• What IS our role? – What should it be? – How do we best fulfill it?• Situation analysis: Unstoppable Force Meets Immovable Object? – External Market – Internal Constituents On-Campus: the “State of Enrollment Management”• Call to action – We serve internal and external constituencies – We need to be more than “just” tactical doers – We must share the knowledge garnered from our positions astride internal and external for the betterment of all stakeholders, internal/external, current/future – The Human Capital enterprise deserves no less Accept no less: return to your office empowered and model a dynamic new role
  3. 3. What IS “Enrollment Management?”• NO ONE REALLY KNOWS – there is no agreed-upon definition• It varies widely from campus to campus• Responsibility and authority are often not connected• It is safe to conclude it is – inefficient, – subjective, – political, and – often not connected to market realities
  4. 4. What SHOULD “Enrollment Management” Be?• It should be a pre-enrollment to graduation process• It should be a partnership among the Adult Mentors at an institution• It should be everyone’s business and everyone should have a defined role and accountability• It should be a conversation that supports education and commerce• It should be engaging• MOST of what it REALLY IS is fun and rewarding
  5. 5. Situation Analysis: the Market• Of those who should be thinking about highered (which is not everyone) – Despite data showing highered has never been more valuable, many are wary – Question ROI (cost/value) – Are unsophisticated about net cost – Are worried about debt• And that group – OUR “BASE” – is shrinking
  6. 6. HIGHERED VALUE: REAL
  7. 7. HIGHERED VALUE: GROWING
  8. 8. Supply Chain Gut Check: Income
  9. 9. Supply Chain Gut Check: Debt
  10. 10. Supply Chain Gut Check: Price
  11. 11. Gut Check: Stealth Money• BANK OF HOME: many families owe more on their mortgages than their homes are worth. Since home values peaked in April 2006, home prices have dropped 34 percent.• PLUS or minus: the size of Parent PLUS loans, available to the parents of undergraduate students, has shot up over the last decade. – the average loan size at a few schools is particularly burdensome, with some parents taking out over $30,000 in debt in only one year.• DYING BREED: more school counselors have been telling me about the role of “stealth money,” grandparents stepping in the help bridge gaps. The clock is ticking on that source.
  12. 12. Trend in Family Ability to Pay and Willingness to Pay PARENTS SAY100000900008000070000600005000040000300002000010000 0 1 2 3 4 5 6 7 8 9 10 11 AVG EFC AVG OFFER
  13. 13. College Board and Art & Science Group, LLC.
  14. 14. Reality Check: You See“You Say”: NYSFAAA member survey data
  15. 15. “You Say”: NYSFAAA member survey data
  16. 16. “You Say”: NYSFAAA member survey data
  17. 17. “You Say”: NYSFAAA member survey data
  18. 18. “You Say”: NYSFAAA member survey data
  19. 19. Future Check: from unwilling to unable to priced-out in a generation• Across the affluence spectrum, ability and willingness to pay is decreasing at best.• As ability to pay increases, willingness to pay decreases: – more and more students are going to their “second choice” colleges because of cost.• If the more-affluent current parents are balking at paying today’s costs what will the next generation of parents do? – …the first American generation pundits predict less well off than their parents….• The next cohort of less-affluent parents will have an even more difficult time paying if college prices freeze today.
  20. 20. Solutions?• Affordability is the “hot new college amenity” – The FINANCIAL FIT has never been more important• Colleges need to be more affordable and effectively promote that – The dial must be turned back on costs colleges incur that have forced them to pass higher costs on to families• We must be advocates for sustainability, for our institutions and for our “customers”
  21. 21. “Perfect Storm”: See It Coming? Expenses UP, Revenue DOWN
  22. 22. So What Do We Do?• We need to be more than “just” tactical doers• “Enrollment management” must be a financial aid/admissions partnership• Financial aid and Admissions must view themselves as and be viewed as more than “just” recruiters and dispursers• Enrollment managers must be recognized as important sources of strategic intellectual and financial capital
  23. 23. How We Doin’?“You Say”: NYSFAAA member survey data
  24. 24. Grade: B
  25. 25. Grade: B
  26. 26. Grade:C-
  27. 27. So What Do We Do?• We must share the knowledge garnered from our positions astride internal and external for the betterment of all stakeholders – internal/external – current/future• We need to urge leadership to: – square revenue with overhead expense – focus on relevant metrics (revenue vs. discount) – accept their stewardship responsibility to objectively look to the future
  28. 28. Call to ActionSettle for Nothing Less than the Enterprise DeservesAccept no less: Return to your office empowered to perform and model a dynamic new role. Higher Education deserves nothing less.
  29. 29. Read www.DanLundquist.blogspot.comFollow @DanLundquistWrite danlundquist@gmail.com or Dan@EducationConsultancy.orgSee www.EducationConsultancy.orgCall (518) 986-1842

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