Financial Aid Optimization Solution
Overview
Fit Score
Settle Intelligence
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SUMMARY
DESCRIPTION
A Massachusetts institution is seeking a vendor to provide a comprehensive financial aid optimization solution aimed at supporting strategic, data-informed management of both state and institutional aid. The primary goal is to align financial aid strategies with efforts to increase undergraduate enrollment.
The selected vendor will deliver an undergraduate financial aid optimization solution that includes access to a team of financial optimization experts, comprising a strategic leader and supporting specialists. The solution must feature an intuitive dashboard for real-time, on-demand data access, allowing enrollment and finance staff to monitor and analyze current information easily. Regular, detailed reports and dashboards will be required, offering actionable insights into progress toward key performance indicators (KPIs).
Additional responsibilities include employing advanced analytics to identify enrollment trends, evaluate the effectiveness of recruitment campaigns, and refine strategies in real time. Vendors will also be expected to develop predictive models to inform yearly enrollment projections, analyze yield, retention, persistence, and net tuition revenue, and conduct price sensitivity and elasticity analyses. The solution should offer regular reporting on enrollment progress, projections, and discount rates, as well as generate multi-year enrollment and revenue projections.
The contract period for this engagement is set for three years.
Source attribution
This Settle analysis is based on the issuing organization’s public RFP listing.