Specifications include, but are not limited to: Partnering with an external professional will provide the research/understanding of the continuous changes in the national student recruitment environment, and how to “leverage” the financial aid process as a marketing tool which will result in the efficient use of institutional dollars. It is imperative that UMaine address the deliverables outlined below. DELIVERABLE 1 – Initial Discovery and Draft Approach • Discussion with key Subject Matter Experts to gain through understanding of Scope of Services. • Review of existing materials supporting Scope of Services. • Draft and Deliver the Draft Approach document. DELIVERABLE 2 – Initial Draft Future State • Conduct needed research and analysis including: o UMaine (CFO & VPEM as partners) needs an ongoing ability to accurately forecast net revenue and enrollment under a specific financial aid budget. o Awareness of the possible financial implications when changing University policy after simulations have been put in place. o Analyze student populations that fit with the school’s mission and develop multiple enrollment and financial scenarios, describing the outcomes and tradeoffs of each. o Identify the long-term trends and projections for UMaine’s Primary, Secondary and Tertiary markets and effectively project and predict the likely enrollment outcomes from these areas. o Optimize our financial aid strategy to achieve a balance of class size, academic quality, demographic representation, and revenue goals to shape future classes. o Be in a position that can predict future enrollment yields through our aid packaging scenarios that will inform longer-term strategies. o Through data-driven analytics, measure the likelihood of summer “melt” at the individual student level, identify students at risk for appropriate advising, and target resources to retention interventions. • Yield modeling that incorporates both the institution's own student data (financial, geodemographic, academic, behavioral) but also third-party data on student segmentation, consumer behavior, and price sensitivity. • An interactive analytics dashboard environment to assess the developing applicant and admit pool as well as progress toward key enrollment goals with comparisons to prior cycles (both EOY and YTD). • Draft and Deliver the Draft Future State
