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Tuition Management Solutions

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How does tuition get set?

This is always a question that new parents have and even some returning parents ask.  How does the tuition rate get established for my school?  Well most schools set a budget based on the projected enrollment number and then divide that total budget by that number.  Most schools are 100% tuition driven therefore there is no extra money to help offset the cost of attending that particular school.  Sometimes though there is some financial aid available due to some donations or donors who see the need to help support those who can't afford the full cost.

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Why can't my private school be free?

This is a great question and quite honestly a legitimate one.  Why can't all private schools raise enough money to make the school free to those who want to attend?  Why can't they find good-hearted people that would work for free or next to nothing to teach my children?

Well the first answer to this big question is if parents pay something in exchange for their child's education then they have something invested in the process.  Therefore they tend to be far more engaged in the education of their child.  So yes a school could potentially raise enough money to cover the cost of education, but why would they...

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Tuition Management

What is tuition management?  Tuition management is the process of managing the tuition primarily at a k-12 private school efficiently, effectively and most important in accordance with general accounting procedures.

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Why even pay Tuition?

A lot of talk is going on today about why some private schools even have to charge tuition. The endowments of some private schools have soared to epic levels. The fundraising efforts are always on pace to raise even more money each year. So why do they continue to charge tuition... One simple answer is so that parents have a vested interest in the education if their child. If they pay, they pay attention. That's the simple answer.

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Keep it Simple

The tuition management process doesn't have to be complicated so please don't make it.  Some schools end up with over 1,000 different billing fees and charges and there really isn't a reason to make it that complicated.  Parents want a simple process that is easy to understand and easy to take care of.  

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Great Partners

It is imperative that you find great partners for your tuition management office. There are many companies out there that you need to be partners with to help streamline and potentially revolutionize the tuition management process at your school. By all means when choosing once if the companies to partner with do the correct amount of due diligence. Call schools in your immediate area and ask who they use. Google the company and see what you find. Use all of the resources available on the net including review sites of the company. This should ensure that the right partner is chosen for your tuition management office and your school.

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Great Famlies

There also needs to be a mix of some great families who are willing and able to make their tuition payment on time and potentially in large sums.  The tuition management process doesn't have to be difficult and allowing parents to make it difficult for you is not anyone's fault but the tuition management personnel.  Be firm, be confident and use the policies you have in place as your backup.

Great families aren't hard to find so once you have them in your school work with them in regards to their tuition to make sure they stay there.

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Great Personnel

So of course great processes are important to the lifeblood of a tuition management!  But great personnel are even more important.  Most private and parochial schools have limped by with just some kind soul who volunteered to help manage the business office.  This works for some but it shouldn't be the norm for a well run tuition management office.

Tuition management is hard enough without having the right personnel in place.  Make sure the school takes the time to search out good candidates who have a strong financial background with great people skills.  Half of this job is financial and the other half is "counseling".

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Great Processes

Great processes really are important in the tuition management office. It is imperative to make sure you have spent the right time planning and preparing for success. Tuition management isn't difficult. No need to make it harder than it is.

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Gizmos and Gadgets

Gizmos and Gadgets seem to be the name of the game nowadays when it comes to selling.  Most companies get caught up in smoke and mirrors and don't ever focus on what they actually do!

Don't get lost in the gizmos and gadgets of a company.  Make sure you here what they actually do and choose the right one for you.

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Sell who you are

This is one of the oldest and most true statements out there.  Especially in the world of tuition management.  Sell who you are and stick to it.  Don't worry about what the other companies are doing.  Stay true and the rest will take care of itself.