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Tuition & Fee Pricing Structure

Tuition & Fee Pricing Structure

Tuition & Fee Pricing Structure
As demographic challenges, perceptions about higher education, and pressure on discount rates create challenges in recruiting students, institutions must assess their value and return on investment. One of the primary ways colleges and universities can appeal to prospective students is through tuition pricing structures that are customized to their specific applicants.

OUR APPROACH:

Using data-driven methods such as market and competitive research, statistical modeling, and enrollment forecasting, institutions, academic units, and individual programs can more effectively communicate their value proposition to students that are interested in the financial return on investment for their higher education studies.

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Tuition & Fee Pricing Strategy

University of South Alabama

Kennedy & Company supported the University of South Alabama (“USA”) on a comprehensive Tuition and Fee Pricing Strategy engagement to enhance its competitive position relative to peers. The institution utilizes a tuition differential pricing model that charges different rates by academic unit, pedagogical technique (web vs. in-person), and level (Graduate vs. Undergraduate). Our work with USA was focused on identifying the optimal tuition price while also simplifying the structure of its fees to support growth in areas of strategic focus.

Hybrid Budget Model Implementation

College of Charleston

The College of Charleston ("CofC") engaged Kennedy & Company over an 18-month planning and change facilitation process to implement a hybridized Performance Based Budgeting (PBB) model that blends RCM and base budgeting elements. This model allows for academic units to financially benefit from credit hour growth or cost reductions (as in RCM) but maintains some central control (similar to a base budgeting model). The PBB went through its shadow year in FY24 and is currently active.

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