In academic year 2022-23, private nonprofit colleges and universities continued to significantly increase their tuition discount rates for undergraduate students For the first time ever, average discount rates exceed 50% for both first-time, first-year students and for continuing undergraduates. While discount rates rose at most schools, net tuition revenue fell sharply in inflation-adjusted value.
It is now more important than ever for chief business officers, chief enrollment officers, and other campus administrators to evaluate their discounting and pricing strategies and the effects they have on net tuition revenue and college affordability. Additionally, in light of the recent Supreme Court decisions on affirmative action and student loan forgiveness, campus leaders will need even more guidance on how to use financial aid strategies that meet enrollment, diversity, and net revenue goals.
This webcast provides an overview of the changes in average discounting rates during the 2020-21 through 2022-22 academic years and provides more details about the pricing and enrollment strategies private colleges have considered to deal rising student financial need and other factors. The panelists will discuss the complex factors that go into new tuition discounting, enrollment, and financial aid strategies, and provide their early assessment of how strategies might need to change due to the Supreme Court’s actions.