"But what if this time it's different?" That's the common concern running through the minds of private-independent school personnel nationwide. People are cutting back. Every family is facing the same economic crisis—some are just more comfortable than others. And private schools need to be prepared in the event of the current crisis affecting their enrollment.
This is the start of the admission season, and from here we'll start to see how the market burden will affect private education. No solid information will be available until at least March, but preliminary data and speculations are already finding their way to the Web. Some regions are claiming an increase in interest, while others are seeing a decreased enrollment interest. However, what is constant throughout the U.S. is the rise of financial aid inquiry.
With the market as tight as it is, what is being found is that many families, even those that don't need aid, are applying. Perhaps their logic is, "It can't hurt." And it can't hurt. However, for your school this means you'll have to address "perceived" need on a case-by-case basis and work closely with these families to maximize enrollment.
Your school will need to make important decisions on how much aid to allot. Increasing your financial aid budget might mean you need to make cuts in other areas. Stay communicative with parents, contributors, and faculty. If you've put the new gymnasium on hold to increase funding to families, a newsletter keeping key people informed will be appreciated. These are hard times—people will understand as long as they're not left in the dark.
