Discussing Tuition Challenges
How do you currently address the cost challenge with your prospective students? What might you try differently the next time this comes up?
My success has come from building value which usually does minimize the cost of education.
I usually acknowledge the prospective student's concern then and there. I find that saying it will be addressed later, but the student on edge. Their first thought is usually "they don't want to talk about finances because it is going to be too much."
It is usually easier to bite that bullet first and cover the options, which in our case is deposit and payment plans.
I don't look at it as a challenge. It's a requirement to divulge if asked, however, if you create the value of the program and education then often times the funding isn't an issue.
I will usually take a look at what the student is currently earning as they are usually worried about loss of income while attending school. If they are applying for student loans, more often than not, the amount that they could receive balances with their current earnings if they were to work part time while in school. It takes the worry about income out of the equation. If they are self paid, then it comes down to monthly payments and how fast they can achieve their goal. Either way, once the student and I talk about these options, they definitely see the logic in how to balance their finances. If there is still objection, then I know that they are coming from a "fear" position and the conversation now changes to overcoming the "fear" challenge.
Be specific. Answer the student's question. Don't make it appear as though you're hiding the information in which they are seeking.
Sometimes I am the first person the student will speak with if I answer an outside line. As the Director of Education I don't usually answer questions about the cost. I can usually turn this question aside and get some information about the student such as, name, address, telephone number, what program they are interested in, if they have a high school diploma/GED. I then ask the caller if they would like to our admissions director. They I buzz him and give him the information I obtained and he takes it from there.
Alejandra, thank you for posting. It's important that we are always compliant, and the best phrase to use is "what they may qualify for." We never want to promise or elude to them qualifying for anything. Make sense?
Elizabeth Wheeler
Christina, Great job! Addressing the issue, but always being compliant, is the way to go.
Elizabeth Wheeler
I agree!
I tell them that education is an investment that will last a lifetime.
I believe the best thing to do is to cover the tuition specifications with the same tone of voice we conduct the entire interview. we should not make a difference in the way we give information about tuition and school's other expenses. I never refer to the programs' costs without immediately explain the availability of FA and other school resources that they may qualify for.
I go over the fees and cost and confirm they will see Financial Aid to see what the qualify for.
i would usually go over fees but remind the prospect that financial aid will give them more information .
Darless,
Thank you for posting! Make sure to still be upfront about total tuition; delaying the information risks breaking the rapport you've so carefully created up to this point. You may find the the total isn't a surprise to the prospective student after all! Be sure to gauge their expectations by asking "Is that about what you expected?" Then, continue based on their response.
Elizabeth Wheeler
I used to just tell them cost straight up but after this course I am going to go a little slower and find out ways to poss guide student to get financial assistance even if through family or friends.
Marisol,
It's great that you are comfortable talking about tuition and make sure to give prospective students complete information! Thank you for sharing!
Elizabeth Wheeler
When I provide the tuition cost to a prospect I go over every cost/fee. Not leaving anything out. Cost per credit is provided to them as well; just in case they would like to seek other options such as a Community College. I don't find this challenging so I personally wouldn't try anything differently.
Diana,
Great! It is so important to answer rather than avoid a prospective student's questions about tuition. Most students today have already done some research and have a good idea about the cost. Helping them see the value of a college education is key!
Dr. Jean Norris
Usually in the beginning of the presentation, an outline or overview is shared. If financial aid comes up sooner, I will address the questions, clarify and move on the next. Also ask questions of how important their education is to them. Where do they see themselves in the next five years?
We currently present the cost of the program then are able to address any challenges by asking "Have you saved any money towards your education" if not let's discuss your financial options. I have learned that as long as you have taken the time to understand the students needs and find out who they are that's how your able to ask the financial questions because you already build the trust.
