Sage advice on resetting tuition
- With a dramatic change in net price, ensure that enrollments will increase to certain levels. Otherwise, operating costs must be substantially reduced.
- Identify the types of students you want and set the sticker price accordingly.
- Diversify the revenue stream and operate more efficiently.
- Attract the large market of adults who need graduate degrees while maintaining the traditional freshman market for more effective enterprise management.
- Realize that pricing strategy alone is not a silver bullet. It’s got to be developed as part of a broader strategy in context with your market position.