Final Milestone

Running head: HEA 610 Milestone Three 1

HEA 610 Milestone Three 4

HEA 610 Milestone Three (Strategic enrollment plan)

Deanna Buchanan

Southern New Hampshire University

Class sections are operating in many programs at the Caltech University, the enrollments overall have been on the decline. The impact of the extended class reductions, along with the improvement in the job market, has resulted in slowing enrollment recovery and little growth in many programs. There are various things which Caltech university are doing to help grow its programs strategically and manage the reducing enrollment and this include

· Offering relevant courses and programs which meet the market demand for skilled workers and targeting industries and profession by carefully examining and tracking the labor market trends in the region.

· They are implementing courses, support services, and programs that close gaps in the underrepresented minority population. The University has started scheduling a class at a time that is convenient for the targeted population, such as single-parents, working professionals, and older students. The changes in the program allow the student to complete their programs in a reasonable amount of time.

· Part of the change in the program includes making pathways to certificates, degrees, and transfer clear and accessible to all prospective and current students via education planning with advisors or counselors. This helps students manage their academic pathways.

· The University has started a program aim at effective retention and outreach. This new strategy aims at improving program sustainability, scalability, and scope. Some of the initiatives include learning communities, accelerated learning program options, and early alert. 

· Finally, Caltech University must offer programs that are competitive within the region instead of providing programs that are available in many regional universities. This approach is supported by the presence of a suitable mix of online courses and campus courses. To boost enrollment, the University has articulated course and program offerings between non-credit and credit to widen the pipeline of potential students.

Retention of students

           Finding from a study at the University hold that students do not complete some programs because of conflicts with employment, family responsibilities, new employment opportunities, and financial circumstances. Strategies for improving student retention should be made in a manner that programs reflect the conditions and needs of the students and should be designed and implemented to help learned to reach their academic goals (Baylor 2014). An essential theory of student retention is Tinto’s theory. According to this theory, students have some attributes such as prior schooling, family background, skills, and abilities, and these attributes influence personal commitments and goals. Moreover, student departure from an institution is a result of the social and academic connection of the student with the institution. Therefore, recommendations on ways to improve retention are subject to the interplay of student beliefs and attributes with institutional characteristics.

Recommendation to improve retention

           One effective method is to come up with university-wide task forces pertaining the student retention. This ensures that retention efforts are pervasive in the whole institution. Second, the University should embark on continuous research on student behaviors. Instead of proposing an idea regarding some practices, the University should find out what student is doing. Third, Caltech University must determine the factors which correlate to student withdrawal or persistence. Administrators should find the unique and specific factors that influence retention at the institution. Lastly, retention intervention should be developed and implemented. The responses should be evaluated based on the effects on programs. 

Type of cost

The cost of the implementation of the strategic enrollment plan involves a variety of prices. It is essential to recognize these costs and the classification of the expenditure for the enrollment plan. The University will incur direct charges. These costs are directly related to the strategic enrollment plan. They are subject to the influence of the university administration. For example, time spends organizing and coordinating is considered as a direct cost. This cost can be reduced by improving logistics. Second, the enrollment will have service costs (Blumenstyk 2014). These costs are not explicitly linked to the plan but affect the program based on consumption. Finally, the enrollment plan has general and administrative expenses. These types of costs are not related to the specific project but benefit all activities. For example, costs associated with financial management and legal actions.

Financial implications

Robust enrollment efforts are significant cost expenditures. Recruiting traditional, distance, and online education students is a source of revenue growth. However, the institution should not develop strategies solely to realize additional enrollment to increase revenue. Increased enrollment will have an immediate impact on revenue and cost for the institutions, but it is not guaranteed as retention and quality of education can result in cost increase. Caltech University cannot rely on gifts, grants, and fundraising to improve enrollment and retention of students. The University will require marketing and branding efforts that blend cost-effective and cost-bearing strategies that become revenue-generating. The recommended procedure for marketing and branding in the digital and online space. The institutions can use this technology more so the social media to market the degree programs and improve enrollment. Today effective strategic enrollment plan requires more than traditional advertising, identity development, or marketing (Blumenstyk 2014). It is recommendable for the institution to craft, present, and manage the brand message to achieve a competitive advantage in retaining, recruiting, and building loyalty among prospective students, staff, and donors.

Type of revenue

           Revenues and costs are either operating or non-operating. The primary source of income for the strategic enrollment plan includes auxiliary services such as dining and housing, net tuition, and clinics. There are other types of revenue, such as contracts and grants, donor contribution, and endowment income for financial aid and academic programs. These funds are used for educational activities, program development, and facilities enhancement to improve the retention of students. Significant recurring sources of the university revenues are investment income and state appropriations, and these are non-operating. 

Financial implication

           The measure of the enrollment plan is based on the cost per completed degree or credentials. The total yearly higher education expenditures determine the price; the time needs to complete a program and the number of degrees produced annually. Caltech University must invest in student success strategies to increase the level of attainment for rural students, racial minorities, and low-income students.

· To develop a comprehensive retention plan for the University, the point persons are administrators’ in-charge of enrollment, student affairs, and academic affairs. The Dean of Students and Directors of Admission should also participate. The financial implications of the strategy are the cost expense of consultation and the implementation costs. 

· The University should explore additional ways and costs for attracting and retaining minority students. This requires the participation and input from the Director of Finance and Director of Admission. The financial implication of this maintains strategy depends on the procedure used or selected.

· The scholarships give students account for cost. The tuition waivers will have cost implications in terms of management and finance.

References: Baylor, E. 2014. State divestment in higher education has led to an explosion of student-loan debt. Washington, DC: Center for American Progress. Blumenstyk, G. 2014. American Higher Education in Crisis? What Everyone Needs to Know. Oxford: Oxford University Press.