Strategic Financial Aid Modeling
Strategic Use of Institutional Grant Aid – EMFASYS
Colleges and universities around the country are maximizing the strategic use of their institutional grant aid with EMFASYS™ – our Enrollment Management Forecast Analysis System. EMFASYS is a powerful, predictive modeling system for:
- Identifying the key drivers of enrollment for a particular institution;
- Examining the interaction of a wide range of current policy and financial options related to enrollment goals;
- Forecasting the effects of institutional grant aid allocations on enrollment goals, net tuition revenue, and institutional aid budgets;
- Making informed trade-off decisions to set aggressive but achievable enrollment and financial goals;
- Distributing institutional funds in ways that help achieve those goals.
Clients have successfully used EMFASYS to increase the size and academic quality of their entering classes, to apply their institutional grant aid and scholarship dollars strategically, and to increase net total revenue. As a strategic planning tool, it helps institutions proactively shape opportunities for planned growth and change amidst the rapidly shifting challenges of higher education.
We consistently hear from our clients how this methodology helps:
- Presidents and senior administrators develop solid strategic plans by weighing in advance the tradeoffs – pro and con – among different possible sets of enrollment goals;
- Enrollment management officers sculpt and deliver incoming classes with regard to enrollment numbers, quality, diversity, geographic distribution, etc.;
- Financial aid officers maximize the positive impact of institutional grant awards;
- Chief financial officers generate additional tuition revenue that can be invested in faculty, facilities, infrastructure, and the fiscal health of the institution.
An EMFASYS engagement also creates an opportunity for people in Admissions, Financial Aid, and Enrollment Management to learn how to apply new planning and analysis approaches with greater self-sufficiency.
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How We Work with You
An EMFASYS engagement typically evolves in three stages:
- Modeling –We work with you and a designated team at your campus to prepare a database of admitted students from the last two years that we can analyze using an EMFASYS statistical model. This helps determine which factors are statistically relevant to predicting enrollment for your institution.
- Goal Setting – Together, we pose “what-if” questions to evaluate a variety of institutional grant packaging strategies and their likely impact on key variables such as academic quality, net tuition revenue, yield, and class composition. This enables you to shape for the coming year a realistic set of enrollment goals and an institutional aid budget that will deliver maximum benefit for your institution.
- Awarding & Monitoring – You can select from two awarding approaches. For Option 1 – we create customized awarding rules that you can apply to optimize your use of institutional aid. We build into the model specific funding guidelines that your institution elects to use for the current year’s awarding, and prepare a set of detailed matrices that you can use to allocate the grant portion of need-based and merit aid for the entering class.
Alternatively, with Option 2 – which most clients select – we use the EMFASYS model to award institutional aid for each individual accepted student. You simply send us data on all admitted students by e-mail during the awarding process, and we return the appropriate institutional grant awards, usually on the same day. The Financial Aid Office can then package these awards with other external aid sources and send them out to each student.
Unlike offerings that simply identify those students most likely to enroll, EMFASYS targets them as well as other students who will enable you to shape your incoming class as desired. EMFASYS provides a reliable forecast of likely outcomes months in advance of a recruitment cycle. We also provide regular status reports of updated enrollment projections – and details for all the variables you’ve deemed important in your enrollment goals. You always know how well your institution is meeting its enrollment goals as well as the likely outcomes.