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Lyon College
Lyon College is a nationally ranked, prestigious liberal arts college based in Batesville, Arkansas. Lyon College was witnessing an increase in tuition discounting and a drop in tuition revenue.
Issues & Concerns
- Inconsistent new student enrollment results.
- YoY decrease in new student Net Tuition Revenue (NTR).
- YoY increase in tuition discount rate (%).
- Ongoing retention concern, 1st to 3rd semester & on-time graduation rate.
- Ineffective net price calculator (NPC) and early awarding cycle.
- Inconsistent awarding program & matrix.
Approach & Process
- Compile legacy student data collaboratively with Admission and Institutional Research.
- Appropriate, cleanse, and aggregate data for analysis.
- Create a master database run descriptive analytics and discuss findings with the business.
- Develop and review modeling for Admission, Financial Aid decisions.
- Develop Student Success Index (SSI) for a period in time recommendations.
- Report & execute period in time recommendations.
Virtue Benefits
- Heightened efficiency in budgeting and targeting the right student with demonstrated ROI.
- Positive impact on Admission decisions supporting retention.
- Establish price points to optimize financial aid awards to selected cohorts.
- Weekly refresh and updates of SSI.
- Implementation of student rating for retention purposes.
- Development of strategic NPC for early awarding and inquiry development.
- A collaborative approach to enrollment health.
Results & Updates
- Fall new student enrollment increase 9.2%.
- Net tuition revenue increase of around $1,100 per enrolled student.
- Tuition discount reduced by 3.2%.
- SSI implemented and overlaid inquiry pool through admitted.
- Awarding program implemented minimizing over rewarding.
- NPC constructed for fall implementation based on Lyon perimeters