Case Study
Tuition Resets 101: An Essential Overview for Independent Schools
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Enjoy this case study with Lucy Lapovsky, Principal of Lapovsky Consulting.
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Plus, you can access discussion prompts ideal for team meetings and professional development sessions (see below).
Discussion Prompts
Determine if a Tuition Reset is Right for Our School: What specific problem are we trying to solve with a tuition reset? Is it an enrollment challenge, program viability, or pricing strategy? Identifying the core issue before deciding if a tuition reset is the right solution is essential.
Impact of Tuition Resets on School Perception: How might a tuition reset alter the perception of our school's value among current and prospective families? What strategies can we employ to mitigate concerns about perceived reductions in quality?
Balancing Tuition and Financial Aid: When considering a tuition reset, how can we balance the need to lower the published price while maintaining or enhancing our financial aid packages? What role does financial aid leveraging play in this process?
Evaluating Enrollment and Revenue Implications: How could a tuition reset affect our enrollment numbers and overall revenue? What data should we analyze to determine if this strategy would benefit our school?
Strategic Communication and Branding: If we decide to pursue a tuition reset, what key messages should we communicate to our community? How can we align this initiative with our school's broader branding and strategic goals?
Identifying and Addressing Risks: What are the potential risks associated with implementing a tuition reset, and how can we address them proactively? How do we ensure this move is part of a comprehensive strategic plan rather than a stand-alone initiative?
