3 Ways Financial Aid Can Better Align With Today’s Students
Make smarter financial aid decisions with predictive insights that balance access, competitiveness, and long-term revenue with Award+.
TRANSCRIPT – click video above to watch.
Hi folks, my name is Chris Tyburski, Vice President for Higher Education Consulting here at Encoura with today's Enrollminute.
When assessing your current financial aid strategy to see how well you're meeting student and family needs, start with three key ideas.
First, understand students and their families are looking at financial aid differently now.
Value, outcomes, transparency — they're looking at these things, not just at price.
Second, position.
Keep this in the front of your mind. How you communicate your financial aid package is just as important as the numbers that are in that package.
And third, optimization.
Make sure that you're aligning student needs and family needs with your packaging strategy for maximum outcome.
It's tough out there and competition keeps getting tougher. And financial aid still plays a critical role in the student decision making process. It makes the difference between them attending you or one of your competitors.
So when you're evaluating your financial aid strategy, remember three things:
- Understand your market and what they're looking for.
- Position your award in a way that will resonate with them and their families, and optimize your strategy.
- Make sure your strategies align with the ever changing needs of students.
Do those three things on a regular basis, and You're setting yourself up for success. Good luck out there.
