Online Financial Aid Estimator... Results that count
Tom Richmond, director of admissions marketing and communications at Bradley University, has shared some preliminary results after Bradley went live in September with an online Financial Aid Estimator service. You can try it at https://admissions.bradley.edu/ssl/estimator/?status=viewtab1
I selected that page as the October 19 Link of the Week featured website and asked Tom if he had any information to share about changes in yield results. It hasn't been working long enough for substantial results but the early information that Tom sent indicates that people indeed value the service.
Here are some points to consider:
- In previous years, a service was available online that allowed visitors to submit the information to a live person, who then calculated the results and returned an estimate in about a week. Last September about 650 estimates were completed.
- This September, the number of estimates completed online increased to about 1100. When you try the estimator for yourself, you'll see that after taking a few minutes to enter your information, you'll have a response back to you in just minutes more. I wasn't using a stop watch, but it was pretty fast.
And here's what I find especially important:
- Tom writes that "I am also seeing our first juniors and sophomores 'discovering' the feature. The numbers are countable in the dozens." I can just imagine how most colleges and universities would react to a request for a financial aid estimate from a junior, let alone a sophomore.
No longer do people who might be considering enrolling at Bradley have to wait until a predetermined point to find out what the net cost of an education at the university might be. From a marketing perspective, this is indeed a service-oriented change that is very likely to pay future enrollment dividends.
Congratulations to Bradley for getting out in front of nearly every other school with the estimator service. So far, I've only found two others available, both at public universities:
- University of Toledo at http://www.financialaid.utoledo.edu/estimator/
- The College of New Jersey at https://delphi.tcnj.edu:81/cgi-bin/tuitionestimator/estimate.cgi?step=1&selected=1
Both of these were also Link of the Week selections. You'll find more than 50 college and university web features at http://www.bobjohnsonconsulting.com/linkoftheweek.html