Rationale, Benefits of a 20% Tuition “Reset” at Drew University
We can’t yet say that tuition “resets” (a favored euphemism for tuition cuts) are sweeping the private sector of higher education in the United States. But we can say that they receive considerable attenting by higher ed pundits as an alternative to tuition discounting in situations where not enough people will pay anything close to a “sticker price” cost they see when visiting college websites.
Drew University, with a tuition discount rate hovering around 60 percent, is one of those universities forced, especially since 2008, to undertake high levels of “merit scholarships” in the pursuit of achieving a desired enrollment.
Today’s Link of the Week leads to a website page at Drew with a detailed explanation of the tuition “lowering” recently announced: A 20 percent decrease in undergraduate tuition from $48,336 per year to $38,668.
The page has 3 primary components:
- A dazzling graphic array of tuition facts and figures including a comparison of the Drew tuition level with 6 unidentified schools “Before tuition reset” and “After tuition reset.”
- “A Note from Our President” highlighting recent enrollment growth and investments in new programs. Understandably, no mention of the tuition discounting situation.
- 20 “Frequently Asked Questions” about the reset. Is someone checking to see which ones are opened and which ones are not?
What impact will this have on a key priority for Drew: increasing net tuition revenue for the university? Time, as the proverb goes, will tell.
To see how one university that has adopted a tuition reset strategy for survival explains the move to potential students, visit the Undergraduate Admissions “Tuition Reset” page.
One thing missing…
How does a potential student get an estimate of what they might expect to pay at Drew after the reset? There’s no link on the page to a Financial Aid Estimator. Even better, Drew might consider joining the 15 schools using the quick and simple MyinTuition Quick College Cost Estimator. That’s a top task for many potential students. A link to completing the task should be on this page.
Google Test My Site gives this page a 4 second “Good” rating for download speed, estimating visitor loss at only 10 percent.
Follow the Link of the Week
To review how one university is waging the “affordability” war for new students, visit the Drew University “tuition reset” page.
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Link of the Week Archive
Regular readers will notice that the Link of the Week selection now appear with my blog. To review initial 2016 selections and previous years visit the Link of the Week archive page.