Using advanced analytics to plan, budget & allocate financial aid
New Jersey Institute of Technology (NJIT) needed a predictive and prescriptive analytics solution that would enable it to effectively allocate financial aid. With Othot’s Sensitivity Analysis tool, NJIT can drill down to the individual student to determine an amount of financial aid that would be mutually beneficial to both the student and the institution.
- THE NEED
- A predictive and prescriptive analytics solution that offered sophisticated models
- THE CHALLENGE
- Create a financial aid strategy that would be expected to yield as many enrolled students as possible while not exceeding their funding
- THE RESULTS
- NJIT improved the profile of its entering 2018 class and saw an increase in net tuition revenue, while maintaining a flat financial aid budget during yield season
Dr. Wendy Lin-Cook
Associate Provost, Enrollment Management and Academic Services
We were able to utilize Othot’s sensitivity analysis to determine a financial aid model that was targeted to increase the likelihood that more best-fit students would decide to attend NJIT. The model was also flexible enough to meet the needs of individual students. That really helped NJIT to be very efficient with our money and maximize our return on investment of our scholarship funds.“