Affordability vs. Financial Aid: Crafting a New Student Recruitment Message
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Increased concern over the cost of earning a college degree means increased interest in the "affordability" of one institution compared to another. Over the past year some schools have introduced "affordability" pages on their websites to replace or augment traditional "financial aid and scholarship" pages. Review examples here from 5 diverse schools: American University, Strayer University, Wellesley College, University of Findlay, and Southern New Hampshire University. Don't miss the appendices with examples of "affordability" for lead generation, universities that compare their tuition directly with competitors, and use of the "affordability" word without a great deal of substance.
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Affordability vs. Financial Aid: Crafting a New Student Recruitment Message
- 1. AFFORDABILITY VS. FINANCIALAID: CRAFTING A NEW STUDENT RECRUITMENT MESSAGE ©ROBERTE. 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 1
- 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 Bob Johnson Consulting, LLC ... @HighEdMarketing 2
- 3. AN NEW AFFORDABILITY ENVIRONMENT Requires serious “affordability” content. Bob Johnson Consulting, LLC 3
- 4. Chronicle of Higher Education… http://bit.ly/1l3n516 Bob Johnson Consulting, LLC 4
- 5. From the Department of Education… http://collegecost.ed.gov/catc/ Bob Johnson Consulting, LLC 5
- 6. 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 Bob Johnson Consulting, LLC 6
- 7. AFFORDABILITY: SERIOUS NEW CONTENT Bob Johnson Consulting, LLC 7
- 8. AMERICAN UNIVERSITY Reducing tuition increases and merit aid. Bob Johnson Consulting, LLC 8
- 9. American U. gets serious… http://www.american.edu/initiatives/collegeaffordability/ Bob Johnson Consulting, LLC 9
- 10. Reducing merit-based aid… http://www.american.edu/initiatives/collegeaffordability/how-financial-aid-stacks-up.cfm Bob Johnson Consulting, LLC 10
- 11. Lower loan default rate… http://www.american.edu/initiatives/collegeaffordability/taking-charge-of-your-college-costs.cfm Bob Johnson Consulting, LLC 11
- 12. Decreasing cost increase levels… http://www.american.edu/initiatives/collegeaffordability/how-AU-is-addressing-college-costs.cfm Bob Johnson Consulting, LLC 12
- 13. STRAYER UNIVERSITY Many ways to reduce cost of a degree. Bob Johnson Consulting, LLC 13
- 14. Starting on the home page… http://www.strayer.edu/ Bob Johnson Consulting, LLC 14
- 15. Add unusual benefits… http://www.strayer.edu/strayer-university-tuition-reduction Bob Johnson Consulting, LLC 15
- 16. “Two ways to save money”… For transfer credits… For Strayer courses… Bob Johnson Consulting, LLC 16
- 17. Reduce credits for a degree… http://www.strayer.edu/admissions/get-credit-your-life Bob Johnson Consulting, LLC 17
- 18. Unusual start to Financial Aid page… http://www.strayer.edu/tuition Bob Johnson Consulting, LLC 18
- 19. WELLESLEY COLLEGE “Basic financial question” to a FAFSA-free EFC estimate. Bob Johnson Consulting, LLC 19
- 20. Before the NPC, a “quick” first step… http://www.wellesley.edu/admission/affordable/myintuition Bob Johnson Consulting, LLC 20
- 21. #1… Demographics Bob Johnson Consulting, LLC 21
- 22. #2… Total family income Bob Johnson Consulting, LLC 22
- 23. #3… Savings & checking accounts Bob Johnson Consulting, LLC 23
- 24. #4… Home equity Bob Johnson Consulting, LLC 24
- 25. #5… IRAs, 401Ks and such (optional) Bob Johnson Consulting, LLC 25
- 26. #6… Value of investments Bob Johnson Consulting, LLC 26
- 27. #7… Other children in college Bob Johnson Consulting, LLC 27
- 28. Your expected family contribution… Bob Johnson Consulting, LLC 28
- 29. UNIVERSITY OF FINDLAY 5 affordability myths. Bob Johnson Consulting, LLC 29
- 30. Myth #1… Public vs. private cost http://www.findlay.edu/offices/student/financialaid/Affordability-Myths Bob Johnson Consulting, LLC 30
- 31. Myth #2… Family income Bob Johnson Consulting, LLC 31
- 32. Myth #3… Completion times & rates Bob Johnson Consulting, LLC 32
- 33. Myth #4: Debt level Bob Johnson Consulting, LLC 33
- 34. Myth #5… Default rates Bob Johnson Consulting, LLC 34
- 35. SOUTHERN NEW HAMPSHIRE UNIVERSITY Collecting 10 cost-related press releases. Bob Johnson Consulting, LLC 35
- 36. Scroll for cost-control press releases… http://www.snhu.edu/admission-costs.asp Bob Johnson Consulting, LLC 36
- 37. Pick the ones that interest you… Bob Johnson Consulting, LLC 37
- 38. THANKS FOR BEING HERE IN CHICAGO! Bob Johnson, Ph.D. (248.766.6425) bob@bobjohnsonconsulting.com www.bobjohnsonconsulting.com @highedmarketing on Twitter Bob Johnson Consulting, LLC... @highedmarketing 38
- 39. APPENDIX 1: COMPARING TUITION COST “A small tuition is the best tuition” Eastern Washington University Bob Johnson Consulting, LLC 39
- 40. University of Wisconsin-Superior… http://www.uwsuper.edu/admissions/cost/compare-tuition-and-cost.cfm Bob Johnson Consulting, LLC 40
- 41. Strayer University… http://www.strayer.edu/strayer-university-tuition-reduction Bob Johnson Consulting, LLC 41
- 42. Eastern Washington University… http://www.ewu.edu/undergrad/afford Bob Johnson Consulting, LLC 42
- 43. University of Texas at Austin… http://www.utexas.edu/tuition/national.html For state residents… For out-of-state students… Bob Johnson Consulting, LLC 43
- 44. State College of Florida… http://www.scf.edu/StudentServices/Tuition/TuitionandFeesComparison.asp Bob Johnson Consulting, LLC 44
- 45. Elgin Community College… http://elgin.edu/students.aspx?id=148 Bob Johnson Consulting, LLC 45
- 46. Guilford Technical Community College… http://www.gtcc.edu/about-gtcc/public-disclosures/tuition-comparison.aspx Bob Johnson Consulting, LLC 46
- 47. Eastern New Mexico University… https://www.enmu.edu/future-students/tuition/compare.shtml Bob Johnson Consulting, LLC 47
- 48. Austin Community College… http://www.austincc.edu/tuition-and-financial-aid/compare-costs Bob Johnson Consulting, LLC 48
- 49. Texas Women’s University… http://www.twu.edu/bursar/cost-comparison.asp Bob Johnson Consulting, LLC 49
- 50. Linfield College… http://www.linfield.edu/dce/tuition-comparison.html Bob Johnson Consulting, LLC 50
- 51. Nicolet College… http://www.nicoletcollege.edu/future-student/high-school/value/comparing-costs/index.html Bob Johnson Consulting, LLC 51
- 52. Western International University… http://west.edu/affordability/tuition-comparison-guide Bob Johnson Consulting, LLC 52
- 54. APPENDIX 2: AFFORDABILITY TO BOOST LEADS… Bob Johnson Consulting, LLC 54
- 55. UNIVERSITY OF MARYLAND UNIVERSITY COLLEGE Bob Johnson Consulting, LLC 55
- 56. Using a tease to get a lead at UMUC… http://bit.ly/18IBXxn Bob Johnson Consulting, LLC 56
- 57. Forcing me to a PDF… http://www.umuc.edu/students/admissions/transfer/upload/10-great-ways-to-pay-for-your-education- brochure.pdf Bob Johnson Consulting, LLC 57
- 58. 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. Bob Johnson Consulting, LLC 58
- 59. UNION INSTITUTE & UNIVERSITY “Affordable” as a teasing benefit. Bob Johnson Consulting, LLC 59
- 60. An online ad from March 18… Bob Johnson Consulting, LLC 60
- 61. Program benefits include “Affordable”… http://bit.ly/1qRLGqE Bob Johnson Consulting, LLC 61
- 62. Auto response: no links to benefits Bob Johnson Consulting, LLC 62
- 63. Academics: “affordable” still missing… http://www.myunion.edu/Academics.aspx#prettyPhoto Bob Johnson Consulting, LLC 63
- 64. APPENDIX 3: AFFORDABILITY: WORDS W/O SUBSTANCE Bob Johnson Consulting, LLC 64
- 65. Lost on a traditional financial aid page… http://www4.lehigh.edu/admissions/undergrad/apply Start here… End here… Bob Johnson Consulting, LLC 65
- 66. “Cost & Affordability” = Financial aid info http://www.bradley.edu/admissions/freshman/cost/ Bob Johnson Consulting, LLC 66
- 67. “Affordable” commitment w/o details… https://www.utsystem.edu/affordability/ Bob Johnson Consulting, LLC 67
- 68. “Most affordable” claim, no specifics… https://www.lewisu.edu/affordability/outstandingvalue.htm Bob Johnson Consulting, LLC 68
- 69. The mission statement, PR approach… http://rwu.edu/about/partnerships-initiatives/affordable-excellence/our-approach Bob Johnson Consulting, LLC 69