Tuition Reset Strategy

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Tuition Reset Strategy

Postby Rogobob77 » Wed Aug 16, 2017 2:17 pm

Here's a recent article about colleges that have employed or are considering a tuition reset strategy:

https://www.insidehighered.com/news/201 ... ion-resets

With the sticker shock of private college tuition freightening a number of potential students away, some schools have employed a strategy of lowering tuition and restructuring financial aid awards. Detroit Mercy's tuition is now around $42K, but on average 65% of students' costs are covered by financial aid. Heard today that the University received a grant to hire a consulting firm with special expertise on tuition reset to explore whether or not this approach might make sense for Detroit Mercy going forward.
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Re: Tuition Reset Strategy

Postby uofdmik2008 » Wed Aug 16, 2017 2:29 pm

They are hoping that it will be in effect for the 2019 school year, the thought process is that a lot of students and parents do not apply to Detroit Mercy due to the initial sticker shock, so they do not pursue us any further and do not realize that a good portion of those costs may in fact be covered by institutional scholarships or financial aid.
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Re: Tuition Reset Strategy

Postby Rogobob77 » Tue Nov 14, 2017 11:43 pm

There are campus briefings for Detroit Mercy students/faculty/ administrators covering tuition reset being scheduled throughout this week. Appears there will be some sort of public announcement from the University on this topic on or about November 21.
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Re: Tuition Reset Strategy

Postby TitanTarHeel » Wed Nov 15, 2017 11:05 pm

I have LONG believed this to be an issue for UDM.

Anecdotally, I have a family member who quickly overlooked UDM and instead looked at Wayne and OU before deciding on OU. Don't think she's the only one. It's hard enough of an effort to cobble together financial aid, grants, scholarships as it is, that trying to solve it to go to UDM rather than just avoiding all that and going to WSU or OU makes a lot of sense. I'm also told though that many on the Board benchmarks UDM against other small, private schools and thus if we did a tuition reset we'd be an outlyer to that group (thus decreasing the odds we would actually do it)
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Re: Tuition Reset Strategy

Postby Tacitus651 » Wed Nov 15, 2017 11:37 pm

I'll be interested to see how low they go for the new sticker price. Detroit Mercy should definitely reset tuition prices but I'm worried if we "reset" the sticker and there's less wiggle room on actual cost (scholarships) in financial aid packages, students will not feel they're getting much of a deal. Plus, if we reset the price and our sticker ends up still being twice the sticker price of OU and Wayne, are we really going to attract that many more applicants?

It's worth the gamble but the margins are tight and nothing is more important than enrollment for a school like Detroit Mercy.
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