If you’re ready to test your knowledge of the latest developments in higher ed, you’ve come to the right place! The February edition of The Real-Time Data Quiz covers three quick topics designed to give enrollment leaders data-driven learnings as gleaned through the multi-focused lenses of MARKETview.
Simply answer the multiple-choice questions then scroll down to get answers and commentary. As usual, there are no grades – just insights you can use to make the most-informed decisions at your institution. Let’s get started!
Q1 Category: Application Volume
As of 2/10/24, how does application volume for colleges and universities working with MARKETview compare to a year ago? A) Down 1.6% B) Up 2.4% C) Up 5.3%
Q2 Category: Deposit Data
Compared to 2023, what proportion of institutions are up in deposit volume as of 2/10/24? A) 26% B) 46% C) 66%
Q3 Category: Goal Setting
What percentage of colleges say they have a Strategic Enrollment Management Plan in place? A) 27.6% B) 44.9% C) 63.1%
See answers below …
Ready to see how MARKETview can help you spend more time getting answers than asking questions?
Overall application volume continues to outpace 2023. Breaking this down by school type, public institutions are seeing a 7.6% lift, and privates are up 4.5%. This uptick continues through the admit stage with privates ahead 9.3% and publics up 7.9%.
Regarding application submissions, some of the growth may be attributed to the increased adoption and ease of the Common App, while direct admissions may be giving a slight nudge to admit rates. However, it’s the next stage of the funnel that has the attention of most institutions …
Ok, so we put a bit of positive spin on this question as “46% of schools being up” also means that most institutions (54%) are actually down compared to last year. In a more traditional enrollment cycle, the increase in applications (referenced in the previous question) would normally bode well for deposit activity. However, this is anything but a normal time in higher education.
Everyone knows the FAFSA delays are wreaking havoc for colleges, universities, students, and parents. While we all anxiously await the day FAFSA data finally comes online, MARKETview is helping our partners take a proactive approach. A couple of the ways we’re doing that is guiding them in prioritizing outreach to students we’ve identified as most likely to qualify for aid and providing comparative views of how the admit pools at cohort schools are shaping up.
According to the 2023 MARKETview Annual Survey Report, less than half the schools (44.9%) have a Strategic Enrollment Management plan in place. This may be a symptom of schools focusing on more individual objectives, under-resourcing, or an indication that strategic goals don’t change much from year to year.
However, if the multiple disruptions affecting higher ed this past year tell us anything it’s that even the best laid plans can be sidetracked in an instant. Formal SEM plan or not, what’s most vital is ensuring your enrollment and revenue goals can be tracked and analyzed on a consistent basis, so you’re able to react in a timely and informed manner.
That’s it for the February quiz. We hope you enjoyed it, and we look forward to sharing the latest knowledge with you going forward.
Please continue to check our blog posts for the most recent findings in higher ed. If you have any immediate questions for or about MARKETview, feel free to reach out to us. As always, we’d welcome the opportunity to speak with you!
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