You want a reputation as a school that is both firm and fair, one that expects the contractual obligations to be met but, under reasonable circumstances, will work with a family. Some schools went into this summer expecting a percentage of their families to need last-minute financial aid, and so they held some of their available aid in reserve. However, not all schools were as prepared and are now looking for ways to save their school's budget in this coming year. These schools may find themselves struggling with sustaining their budgets while upholding their reputation of fairness.
ISM has recently released an article originally written for To The Point on our Web site, free for all schools experiencing this situation: "Tuition Liability: Use Enrollment Contracts to Set Responsibility."