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Tuition Pricing and Aid Strategies: A Practical Approach. AIR 1994 Annual Forum Paper.

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Title: Tuition Pricing and Aid Strategies: A Practical Approach. AIR 1994 Annual Forum Paper.
Language: English
Authors: Fine, Paul L.
Peer Reviewed: N
Page Count: 22
Publication Date: 1994
Intended Audience: Administrators; Researchers; Practitioners
Document Type: Speeches/Meeting Papers
Opinion Papers
Descriptors: College Programs, Fees, Higher Education, Income, Institutional Research, Models, Predictive Measurement, Private Colleges, Program Design, Selective Colleges, Statistical Analysis, Student Costs, Student Financial Aid, Tuition
Abstract: This paper examines the applicability of net tuition revenue models for a highly selective, elite priced, private research university in the southern U.S. Pricing and aid strategies for this university seem to be driven by intuitive assumptions about the economy, market forces, needs-blind admissions, student satisfaction, net price responsiveness, and quality elasticity. The system seems to have strong predictive ability in terms of budgeting gross and net tuition revenues, but does not function well in predicting the impacts of new or changing pricing strategies. Given the decision making process of the school and the number and power of key players, change in the system will have to take place incrementally. Statistical models should be applied to some of the smaller, less entrenched aid programs first to build evidence to support improvements in their design. For example, the net revenue gained from providing talented freshmen with 100 percent tuition scholarships versus 75 percent tuition scholarships could be modeled, taking into account students' choice of college and the persistence rate. There is a need for empirical modeling that can quantify the impact of long-standing assumptions on net tuition revenues. (Contains 22 references.) (JDD)
Entry Date: 1995
Accession Number: ED373658
Database: ERIC
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  Data: Tuition Pricing and Aid Strategies: A Practical Approach. AIR 1994 Annual Forum Paper.
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  Data: English
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  Data: <searchLink fieldCode="AR" term="%22Fine%2C+Paul+L%2E%22">Fine, Paul L.</searchLink>
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  Data: N
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  Label: Page Count
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  Data: 22
– Name: DatePubCY
  Label: Publication Date
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  Data: 1994
– Name: Audience
  Label: Intended Audience
  Group: Audnce
  Data: Administrators; Researchers; Practitioners
– Name: TypeDocument
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  Data: Speeches/Meeting Papers<br />Opinion Papers
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  Data: <searchLink fieldCode="DE" term="%22College+Programs%22">College Programs</searchLink><br /><searchLink fieldCode="DE" term="%22Fees%22">Fees</searchLink><br /><searchLink fieldCode="DE" term="%22Higher+Education%22">Higher Education</searchLink><br /><searchLink fieldCode="DE" term="%22Income%22">Income</searchLink><br /><searchLink fieldCode="DE" term="%22Institutional+Research%22">Institutional Research</searchLink><br /><searchLink fieldCode="DE" term="%22Models%22">Models</searchLink><br /><searchLink fieldCode="DE" term="%22Predictive+Measurement%22">Predictive Measurement</searchLink><br /><searchLink fieldCode="DE" term="%22Private+Colleges%22">Private Colleges</searchLink><br /><searchLink fieldCode="DE" term="%22Program+Design%22">Program Design</searchLink><br /><searchLink fieldCode="DE" term="%22Selective+Colleges%22">Selective Colleges</searchLink><br /><searchLink fieldCode="DE" term="%22Statistical+Analysis%22">Statistical Analysis</searchLink><br /><searchLink fieldCode="DE" term="%22Student+Costs%22">Student Costs</searchLink><br /><searchLink fieldCode="DE" term="%22Student+Financial+Aid%22">Student Financial Aid</searchLink><br /><searchLink fieldCode="DE" term="%22Tuition%22">Tuition</searchLink>
– Name: Abstract
  Label: Abstract
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  Data: This paper examines the applicability of net tuition revenue models for a highly selective, elite priced, private research university in the southern U.S. Pricing and aid strategies for this university seem to be driven by intuitive assumptions about the economy, market forces, needs-blind admissions, student satisfaction, net price responsiveness, and quality elasticity. The system seems to have strong predictive ability in terms of budgeting gross and net tuition revenues, but does not function well in predicting the impacts of new or changing pricing strategies. Given the decision making process of the school and the number and power of key players, change in the system will have to take place incrementally. Statistical models should be applied to some of the smaller, less entrenched aid programs first to build evidence to support improvements in their design. For example, the net revenue gained from providing talented freshmen with 100 percent tuition scholarships versus 75 percent tuition scholarships could be modeled, taking into account students' choice of college and the persistence rate. There is a need for empirical modeling that can quantify the impact of long-standing assumptions on net tuition revenues. (Contains 22 references.) (JDD)
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  Data: 1995
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  Label: Accession Number
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  Data: ED373658
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    Languages:
      – Text: English
    PhysicalDescription:
      Pagination:
        PageCount: 22
    Subjects:
      – SubjectFull: College Programs
        Type: general
      – SubjectFull: Fees
        Type: general
      – SubjectFull: Higher Education
        Type: general
      – SubjectFull: Income
        Type: general
      – SubjectFull: Institutional Research
        Type: general
      – SubjectFull: Models
        Type: general
      – SubjectFull: Predictive Measurement
        Type: general
      – SubjectFull: Private Colleges
        Type: general
      – SubjectFull: Program Design
        Type: general
      – SubjectFull: Selective Colleges
        Type: general
      – SubjectFull: Statistical Analysis
        Type: general
      – SubjectFull: Student Costs
        Type: general
      – SubjectFull: Student Financial Aid
        Type: general
      – SubjectFull: Tuition
        Type: general
    Titles:
      – TitleFull: Tuition Pricing and Aid Strategies: A Practical Approach. AIR 1994 Annual Forum Paper.
        Type: main
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            NameFull: Fine, Paul L.
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              M: 06
              Type: published
              Y: 1994
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