Utica College is resetting its published price for Fall 2016, lowering the cost of tuition and fees by 42% so that it is under $20,000. See www.utica.edu/affordable for the details and follow the chatter at #uticasboldmove.
Tuition resets can be a success for institutions like Utica that implement them with comprehensive strategic intent and from a position of institutional strength. They solve a pricing perception problem among prospective students and their families/influencers and provide a necessary “market correction.” They retain institutional financial aid to maximally benefit high-need families plus result in real cost savings for many middle-class families. And for the institutions themselves, they address the sustainability problem that comes with a high-discount operating model. When implemented correctly, a tuition reset positively influences families’ assessment of the institution’s value proposition and clarifies the worth of the investment.
Utica is the third college that The Lawlor Group has advised when it comes to implementing a tuition reset. Concordia University, St. Paul has just admitted its third incoming class to benefit from its tuition reset, and Converse College its second incoming class. Both are experiencing record enrollment numbers and successfully meeting their net revenue goals.
To learn about the services we provide surrounding tuition resets, contact John Lawlor at 952.922.6291 or firstname.lastname@example.org.