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Financial Sustainability for Advanced Degree and Certificate Programs
Sun, April 30, 4:05 to 5:35pm, Henry B. Gonzalez Convention Center, Floor: Street Level, Stars at Night Ballroom 4Abstract
A 5-year longitudinal evaluation of a $45 million grant to three higher education institution tracked the financial sustainability planning of 18 new degree and certificate programs developed under this grant. This study describes the factors that influenced financial sustainability plans including break-even analysis assumptions and lessons learned from revised enrollment management strategies and fundraising efforts. Pricing sensitivity analysis confirmed grantees’ assumptions that that no more than one third of program costs could be recovered through tuition and fees. Variations in optimal price points were associated with job position at the time of enrollment and return on investment (ROI). Marketing efforts, which aimed to reach a larger and more diversified pool of prospective students, had little effect on pricing sensitivity.