The Price is Right Setting Tuition at Your School Presented by Dr. Alan Pue President, The Barnabas Group, Inc [email protected].

The Price is Right

Setting Tuition at Your SchoolPresented by Dr. Alan Pue

President, The Barnabas Group, [email protected]

Remember

Somebody’s Got to Pay

The Current Reality

85/15

Why Do They?

Create a list of the top three to five reasons students choose to enroll at your school –

1.2.3.4.5.

Why Do They?

How do you know?

Why Do They?

Create a list of 3-5 reasons why students chose to withdraw from your school –

1.2.3.4.5.

Why Do They?

How do you know?

Consider

The SSI

Why Did You Do That?

Consider your last major purchase (over $5,000). Now walk through the decision making process and consider all of the thoughts, emotions, internal and external influencers. What did that decision making process look like?

Question

When something as precious as your freedom and reputation is at stake are you willing to risk it all

on . . . ?

What Price Says

Are there exceptions?

What the Research Says . . .

Schools with consistently strong enrollment . . . Own a consistent, clear, compelling message Communicate that message effectively Employ sound enrollment/retention strategies Invest sufficient resources Are known for quality Cultivate a powerful, positive school culture Consistently deliver exceptional customer service Have above average “curb appeal” Work at building strong constituent and community

relationships

In the End It is About

VALUE

What Boards Want to Do

Hold the line!

What Boards Must Do

Ensure that . . .

TUITION

SOME FALSE PREMISESThe Point BreakSet the Price then Build the BudgetOur Past Tuition Rates Have Been on TargetPay Careful Attention to Your CompetitionWe’ve Got to Remain AffordableLow Tuition Allows for Greater GivingDiscount the Empty SeatsWe need to hold the line on tuition

increases

Another False Premise

“By at least 20%”

A Formula

Multiply/Divide*

* But don’t forget

Mission Impossible I and to Infinity

“a business can’t continue

to . . .”