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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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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
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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
Bob Johnson Consulting, LLC... @highedmarketing 38
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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
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