enrollment mgt in time of challenge & change
DESCRIPTION
Lundquist presentation at 2012TRANSCRIPT
#NYSFAAA2012Enrollment Management in a Time of Change and Challenge
Dan Lundquist
October 10, 2012
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
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
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
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
HIGHERED VALUE: REAL
HIGHERED VALUE: GROWING
Supply Chain Gut Check: Income
Supply Chain Gut Check: Debt
Supply Chain Gut Check: Price
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.
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Trend in Family Ability to Pay and Willingness to Pay
PARENTS SAY
AVG EFC AVG OFFER
College Board and Art & Science Group, LLC.
Reality Check: You See
“You Say”: NYSFAAA member survey data
“You Say”: NYSFAAA member survey data
“You Say”: NYSFAAA member survey data
“You Say”: NYSFAAA member survey data
“You Say”: NYSFAAA member survey data
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.
Solutions?
• Affordability is the “hot new college amenity”
– The FINANCIAL FIT has never been more important
• Colleges need to be more affordable andeffectively 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”
“Perfect Storm”: See It Coming?Expenses UP, Revenue DOWN
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
How We Doin’?
“You Say”: NYSFAAA member survey data
Grade:
B
Grade:
B
Grade:
C-
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
Call to ActionSettle for Nothing Less than the Enterprise Deserves
Accept no less:
Return to your office empowered to perform
and model a dynamic new role.
Higher Education deserves nothing less.
Read www.DanLundquist.blogspot.comFollow @DanLundquistWrite [email protected] or [email protected] www.EducationConsultancy.orgCall (518) 986-1842