Financial Aid (Price) Optimization & Modeling

In a fiercely competitive and highly dynamic market, the institutions with the most sophisticated understandings of price-demand response will fare better than their competitors in terms of enrollment and net revenue. No matter how finely attuned financial aid programs are, there are still systematic instances of over- and under-awarding that, if they could be known and addressed, would contribute to additional efficiency, stronger enrollment yield, and ultimately a better market position.

Hardwick-Day's analysis replaces the guesswork involved in setting merit- and need-based grant targets by applying a statistical, econometric model to determine the price responsiveness of admitted students relative to their academic preparation and financial need.

Hardwick-Day does not impose a system. Rather, the firm provides management information, tactical discipline, and help in managing the risks and rewards associated with strategic pricing.  This approach does not depend on easy routes like increasing aid to increase enrollment.

While Hardwick-Day applies the same underlying analytic methodology in each engagement, the questions and objectives posed by each institution differ significantly. As a result, each engagement produces a unique analysis and an institution-specific set of recommendations for financial aid award targets, communication, and delivery strategies.

Contact Jim Day or Nathan Mueller.

Financial Aid Strategy

Every analysis reveals unique opportunities to capture additional net revenue and to position and manage class profile.  Based on financial aid analysis and the development of clear policy guidance, Hardwick-Day works with clients to set strategies that can “turn the ship.”   More...

Monitoring

Hardwick-Day monitors institution’s awards, enrollment, and net revenue, providing regular reports throughout the spring season.  These updates help detect discrepancies between policy and practice and alert everyone to changes in the admitted student population.  The early warnings provided by these reports enable mid-course corrections to avert undesired outcomes.  More...

Aid-Related Retention Analysis

Hardwick-Day offers custom retention analysis that can help colleges muster the institutional seriousness required for retention monitoring, problem identification, and intervention. Hardwick-Day offers practical guidance as well as serious data crunching.  More...

Interim Leadership

The position of director of financial aid—always crucial to the successful recruitment and student life on campus—has become strategic.  Directors are now required to understand and manage the financial aid program as well as understand the increasingly sophisticated role that aid strategy plays in delivering a class in terms of numbers and characteristics that reflect strategic enrollment goals.  Many colleges struggle to fill these key positions.  More...