Financial aid analysis key to realizing enrollment goals

A nationally respected consulting firm is helping CMU maximize its financial aid packages to achieve CMU 2010 enrollment goals.

Noel-Levitz is completing a financial aid analysis to determine whether CMU’s existing financial aid strategy will be effective in improving the quality and diversity of its student body. It’s part of the CMU 2010 teaching and learning priority, which received $50,000 in CMU 2010 FY06 funds.

“Cost of attendance and aid packages influence initial enrollment decisions and significantly affect student retention,” said Mike Owens, Office of Scholarships and Financial Aid director and associate dean of students. “We need to analyze how best to use our resources.”

An analytical process developed by Noel-Levitz helps colleges and universities efficiently use their financial aid resources to reach targeted enrollment rates among students with different financial needs and academic abilities.

“Noel-Levitz has an understanding of what is going on with other universities in Michigan and can help us to use what we have available to achieve our recruitment goals,” said Marcie Otteman, associate director of Admissions.

CMU has contracted the services of Noel-Levitz in the past. Eight years ago, the consulting firm reviewed financial aid packages offered by CMU.

“Universities should review the competitiveness of their merit scholarships and financial aid packages periodically,” said Betty Wagner, director of Admissions. “It is much better to take a proactive approach before any enrollment crisis occurs.”

Noel-Levitz will complete a comprehensive review of CMU’s financial aid packages, scholarships, and enrollment outcomes. The analysis is expected to be completed in time to have an effect on fall 2007 enrollment.