Increase College tuition discount rate by 10% based on 720 FTTE students
NEC’s discount rate (or the average scholarship offered to its college students) nearly doubled during the period of the last Long Range Plan (2002–2006), allowing the Conservatory to compete more effectively with its peers. Indeed, even when competitors offer more aid, the appeal of our outstanding faculty and programs often prompts some students to choose NEC instead.
As the planning process progressed, it became undeniably clear that College tuition discount percentage points are extremely expensive, and that funds needed to increase the discount are funds taken away from other goals. Recognizing this, the Task Forces concluded that campus redevelopment and program distinction/faculty development are equal in priority to a bold increase in financial aid. A realistic but steady increase in College tuition discount, alongside high profile faculty and program enhancement and campus redevelopment, will be the most strategic way to build NEC’s competitive edge.
Work towards increasing Preparatory and Continuing Education need-based financial aid by 6.5%
Planners agreed that new scholarship money should be directed largely towards increasing need-based financial aid, perhaps expanding the Boston residents tuition assistance program that already exists. The goal is to make progress towards diversifying the student population, while supporting rigorous standards of musical education and talent development at all age levels.