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13 Financial Warning Signs in Enrollment Management

A sign to represent as a financial warning sign in enrollment management.Understanding the financial warning signs in enrollment can help trustees and the private school’s leadership to respond more rapidly to the financial problem.  In this podcast, I identify 13 such signs that may lead to a financial trap and may begin years of economic dysfunction within the school and in some cases, may lead to the closing of a school.  These conditions can sneak up on trustees at even the most organized private school, particularly since trustees may meet and only superficially review certain financial matters during the year. Trustees should keep a closer eye out for these signals. Perhaps, this awareness can prevent another school from being in such bad financial shape that they aren’t able to achieve their mission very well or a worse condition in which they find themselves fighting not to close their doors. If, as a trustee, you are seeing any of these financial warning sign in enrollment, look towards your school market plan; make sure it focuses on the recruitment of full-pay families; and be confident that the right amount of resources are being allocated to the efforts.

 

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