🌕 Independent School Moonshot Podcast
Tuition Resets 101: An Essential Overview for Independent Schools
An interview with Lucie Lapovsky, Lapovsky Consulting
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Unlock the Essentials of Tuition Resets with Lucie Lapovsky
Is a tuition reset right for your school? In this episode of the Independent School Case Study series, Lucie Lapovsky, Principal of Lapovsky Consulting, a leading higher ed expert on finance and tuition resets and former President of Mercy College, breaks down the concept of tuition resets and offers practical advice on when and how to implement this strategy effectively.
Gain a deeper understanding of how a tuition reset can enhance your school's accessibility, appeal, and long-term sustainability.
Through real-world examples and clear guidance, Lucie helps school leaders navigate this approach's potential risks and rewards, ensuring that any decision to reset tuition is part of a well-rounded strategic plan.
Don't miss this opportunity to learn from the best and ensure your school is positioned for success.
What You'll Learn:
The Essentials of Tuition Resets: Gain a clear understanding of what a tuition reset involves and how it can be strategically implemented in K-12 schools.
Identifying Core Challenges: Learn how to determine the specific problem a tuition reset is meant to address, whether it’s an enrollment challenge, program viability, or pricing strategy.
Strategic Alignment: Discover why aligning a tuition reset with your school’s broader strategic vision and long-term goals is crucial, ensuring it’s not just a quick fix.
Maintaining Value Proposition: Understand the importance of adding value through program enhancements or new initiatives to bolster your school’s value proposition when implementing a tuition reset.
Effective Communication Strategies: Learn the best practices for communicating a tuition reset to your school community to ensure transparency and maintain trust.
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?
Subscribe to our podcast on your favorite app! It's free. Or watch the interview below!
