University Business - July 2010 - (Page 30)

MONEY M AT T E R S Four ways to sweeten the oﬀers to high-quality students It’s Not Just About Aid Anymore By Kathy Kurz and Silvio Vazquez W HEN COMPETING FOR top students, many colleges are ﬁnding that oﬀering merit awards or generous need-based packages is no longer enough to win the day. Academically successful students typically have multiple oﬀers from which to choose. So, all things being equal when it comes to ﬁnancial aid, how does a college compete for the best and the brightest? Here are four ideas for sweetening the oﬀer to the student that everybody wants—because it’s not just about money anymore. 1. Create added value through your honors program. Hundreds of colleges and universities have established honors programs to attract top-tier students—some with longstanding traditions and proven outcomes. e best have certain attributes that are particularly attractive to prospective students. Typically, they have a merit aid component tied in as a beneﬁt, but as Betsy Porter, University of Pittsburgh’s director of admissions and ﬁnancial aid, states, “Generally speaking, students and their families are collectively looking for more than just a merit scholarship.” Motivated students are looking for communities where there’s active engagement not only with faculty mentors, but also with peers who will challenge them. So, to encourage top prospects to visit your campus, consider oﬀering special events that will give them the opportunity to meet other like-minded students. ese events should be seen as a time to not only celebrate your visitors’ Students who are bright, accomplished, motivated, and capable still need direction and support. accomplishments—it’s about them, not you—but also a time to show how current honors students on your campus are being challenged and recognized. For example, if current honors students are involved in faculty research, if they are starting new initiatives in the surrounding communities, or if they have studied abroad, this would be a perfect time for them to share their experiences and accomplishments with visiting students and parents. Consider inviting honors program alumni to speak about their experiences during and after their time on campus. is will help prospective students see that they would be joining a tradition of excellence and success. Other beneﬁts designed to appeal to the desire for community would include: • An honors ﬂoor in the residence halls where intentional living and learning communities are available to students who opt-in. • Peer mentoring by upper division honors students. • A special gathering place or study area for honors students. • Social or service activities for students in the honors program that give them the opportunity to collectively pursue a theme or an agenda for the year that is linked to serving the campus or oﬀcampus community or to raising awareness on critical issues. • Most importantly, ensure that honors students have the support and mentoring they need. As Porter shares, “Outcomes are important, but it’s not just about how many Marshalls, Rhodes, or Fulbrights come out of your institution. Students who are bright, accomplished, motivated, and capable still need direction and support. Sometimes it’s as basic as the notion of having someone to talk to and having faculty mentors who can listen.” Certainly the academic component of an honors program is also important. Special honors sections of core courses, special opportunities for independent research or interdisciplinary study, and opportunities to get into the major earlier are all examples of curricular advantages oﬀered in some honors programs. Other “perks” for honors students can be administrative—e.g., early registration, special work opportunities. e point is to make the features and beneﬁts of Kathy Kurz is a partner and Silvio Vazquez is a consultant in the enrollment management consulting ﬁrm Scannell & Kurz, Inc. ey can be reached via the ﬁrm’s website, www .scannellkurz.com. universitybusiness.com 30 | July/August 2010 http://www.scannellkurz.com http://www.scannellkurz.com http://www.universitybusiness.com

Table of Contents for the Digital Edition of University Business - July 2010

Univertsity Business - July 2010
Contents
Editor’s Note
College Index
Company Index
Advisory Board
Behind the News
Sense of Place
Community Colleges
Viewpoint
Money Matters
Annual Directory of Higher Education Consultants
Human Resources
Models of Efficiency
Lecture Capture: Policy and Strategy
Projecting New AV
Land Mines Ahead
End Note

University Business - July 2010