|The Finance Filter in the Funnel
Now that technology has become a quasi-commodity, the next big trend in international student recruitment will involve mastering the art and science of determining a prospective student's financial capacity.
Of course technology will continue to evolve, along with innovative ways to reach prospective international students and those within their spheres of influence. But rather than focus on feeding the wide mouth of the traditional enrollment funnel, USjournal.com is thinking deeply about generating the most qualified inquiries for our clients -- in particular, from the perspective of financial capacity.
- Demand for transnational higher education is projected to increase from about three million students in 2008 to about eight million in 2025.
- The number of worldwide internet users is approaching two billion.
- About four billion people on three continents are trying to join the organized economy.
- The cultural and economic impact of international students on host campuses has been well-documented.
- Host governments are under increasing pressure to attract the brightest minds, yet assure their domestic population that the international students will not burden domestic resources.
- Countries throughout Asia and the Middle East have made multi-billion dollar investments in their domestic education system.
- Increasingly, European countries are beginning to charge differential tuition fees for non-European Union students.
- Tuition transparency in the U.S.: In accordance with the Higher Education Opportunity Act of 2008, by October 2011, each postsecondary institution in the United States that participates in Title IV student aid programs must post a net price calculator on its web site that uses institutional data to provide estimated net price information to current and prospective students and their families based on a student's individual circumstances.
The law does not apply to prospective international students, yet.
So, what can be done to improve the efficiency and integrity of the current process for verifying funding sources of prospective international students and scholars around the world -- not only for students entering the U.S., but other host countries as well? Let me know what you think: cheryl@USjournal.com
|USjournal.com: Your source for translations in 16 languages
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