responses

Christian Discussion 2015-2016	2016-2017	2017-2018
Total Cost	55,070	57,070	60,055
Net Price	33,003	33,202	33,981
Income	Title IV 2015	Title IV 2016	Title IV 2017
0 - 30,000	$25,524	$25,448	$26,767
30,000 - 48,000	$28,663	$27,346	$29,289
48,000 - 75,000	$30,361	$29,370	$29,924
75,000 - 110,000	$31,561	$31,481	$33,096
110,000 +	$35,772	$35,969	$36,486

As a private, Liberal Arts college based on prestige, Merrimack College has a relatively high tuition and cost of attendance. This has not hindered the ability for growth as Merrimack is known as one of the fastest growing institutions in the nation. Despite a high tuition Merrimack does market itself as one of the best values in higher education. In the chart above you may notice that cost of attendance has risen steadily, but Merrimack has been able to keep Net Price nearly the same over the past three years. Tuition discounting and institutional aid for students is imperative to make the college affordable for more Americans. The growth Merrimack has witnessed over the past decade is in large part to the highly-regarded reputation the school has earned. Similar to higher consumer prices in commerce resulting in perceived high quality, the increase in tuition actually aids Merrimack in its pursuit of high prestige. Therefore, whereas raising prices typically lowers sales for a business, the increased prestige from higher tuition has had the opposite effect by actually increasing enrollment substantially. The elasticity of tuition changes allows Merrimack flexibility to increase revenue without suffering declined enrollments.

Merrimack College has institutional goals of increasing diversity. Minority students are more likely to come from low income households, thus are more price sensitive. This under-represented student population is more heavily reliant on financial aid. The assistance offered via financial aid options allows students the freedom to make the critical decision on which school to attend based on merit of the institution, not simply cost. The proper allocation of institutional aid allows institutions to pursue enrollment goals without compromising the mission. Price, affordability, and aid are topics that directly benefit or hinder both students and higher education institutions.

 

References:

Hossler, D. & Bontrager, B. (2015) Handbook of strategic enrollment management. Jossey-Bass

National Center for Education Statistics (2020). Retrieved from  www.nces.ed.gov/ipeds.use-the-data

Sylvia Discussion:

UTSA prides itself on being an institution that is accessible and affordable to the student population. The institutions net price for attending UTSA  in 2017-2018 is 13,064 for full time, in-state undergraduate student. The out-of-state students had a net price for 2017-2018 of 35,204 for full time undergraduates. During 2015-2018 there is a fluctuation of about one thousand dollars (IPEDS, 2018). The chart below gives more detailed information for net prices.

Net price w/ Grant or Scholarship          Net price w/ Title IV or Financial aid

2015-2016          18,107                         In state                    23,715        

2016-2917          11,861                         in state w/ family   13,325         

2017-2018          13,064                         In state/ dorm         24,496        

                                                                  out-of-state             35,985

Income:

Net price/ Title IV       2015-2016           2016-2017        2017-2018

0-30,000                          9,617                   9,226                 10,325

30,000-48,000               10,707                 10,075                 11,307

48,001-75,000               13,320                 12,327                13,896

75,000-110,000             16,880                 17,106                17,777

110,000-and up             18,597                  18,996                19,951

The student population in San Antonio are from a low income community that has first generation college students. Keeping net pricing and total cost low will increase enrollments. The institution's web site has information that includes a breakdown of how much the yearly cost is of attending UTSA. The breakdown includes tuition, fees room ,board. There are prices for on campus and off campus living, meal plans and includes bus passes. Students thinking of attending this school have some knowledge before they commit about the total cost.   The institutions strategic enrollment plan initiates funding for financial aid and keeping tuition low so far UTSA has accomplished this with a student population of 32,264, a 1.84 billion dollar financial aid budget, 57 % grants, 50 % student loan, 12% scholarship and 73% retention (UTSA, 2019). 

National Center for Education Statistics (2020) retrieved from https://nces.ed.gov/ipeds-use-the-data

utsa.edu/strategic plan/documents