Recruiting Intelligence

This week we continue our three-part series on #FinTech, where we’re exploring how money for college can be found and moved faster, safer, and smarter, alleviating some of the headache for students, their families, and even for administrators. This is part of our focus on all things #EdTech.

Last week, we dove into new student loan options, especially for students from underserved demographics, those looking for socially conscious financing, those who want unique repayment terms, and international students seeking financing. If you didn’t get a chance to read it, you can check it out here.

A quick shoutout to NAFSA's latest issue of International Educator. It was in our mailbox this week and it should be available online soon. Great articles on priority topics: student services, student employment opportunities and Intead's and iSchoolConnect's article about artificial intelligence and chatbots. Great stuff well worth the read.

With 3 new Intead student recruiting research reports headed your way, now is a great time to consider an Intead Plus Bookshelf subscription. Don’t miss these valuable reports to help you improve your institution’s recruitment game:

• Student Interactions on Peer-to-Peer Recruiting Platforms
• Student Interactions with Chatbots and other Artificial Intelligence Tools
• Student Recruiting in Emerging Markets: Africa and Latin America

Or you can learn from us with a personal meeting: we will be discussing our latest research and presenting our student recruitment insights at the upcoming TABS, ICEF and AIRC conferences. Email us to set up a meeting.

Now a look at alternative funding sources. Read on to find out what exists outside of student loans.

When you think of student loans, your first thought might not be of the Space Race between the US and the Soviet Union, but that’s exactly where they started. Following the launch of the Soviet Sputnik, the first federal loan program began in 1958 with the National Defense Education Act (NDEA) to serve students studying engineering, science, or education degrees.

Since then, technology has rapidly advanced—both in outer space and right here in the earthly realm of higher education. Interestingly, tech has also advanced in how to finance education.

Continuing our exploration of #EdTech, today we are turning to FinTech in what will be a three-part series. Most of us have probably checked our bank balance online and many are cashing checks with a click of our cellphone cameras. The younger ones among us are transferring funds to each other using Venmo. (You had to pay your babysitter that way just the other week, didn't you?). These same digital advances in FinTech are starting to overlap with EdTech.

The rising cost of higher education is a huge concern for most students and families. Today we explore some of the new financial technologies that allow money to be moved faster, safer, and smarter for the students and families that are eager to attend your institution.

Why is this important?

Knowing what your target audience is into is always important from a recruitment and retention point of view. Is your institution making it easy for students to use the modern financial tools available?

In our FinTech series, we are going to look at new student loan offerings and alternative funding sources for scholarships and crowdsourcing. And while those are helpful on the student end, we will also discuss FinTech solutions for verifying financial details and aid approvals as well as payment management systems.

Quick reminder: This December, the Intead team will be attending the TABS conference in Boston, the ICEF conference in Miami Beach and the AIRC conference in Miami. Drop us an email if you’d like to meet and hear about our latest research. We are releasing 3 new market research reports in the coming months. So much insight!

Everyone feels stress on the job. Recruitment and admissions teams are feeling it too, according to a recent story from Inside Higher Ed.

In Inside Higher Ed’s 2019 Admission Officers Survey, 336 admissions leaders weighed in, and the majority admitted they were concerned about filling their classes, especially in a timely manner. And not just a majority, but a super majority.

While we may wish for the stressless job, we knew what was in store when we took on this kind of work. And nothing relieves stress like the ability to point to a plan. Yet, the plan forward has so many options. Which ones are best for your institution? Where is the best ROI? The annoying answer: It depends.

Come see us at the AIRC Annual Conference in Miami in December where we will be offering a 3 hour pre-conference workshop on all the latest trend data and the actionable plans that help you move forward. Email us if you'd like to set up a meeting between Dec. 8 - 13 (ICEF + AIRC events).

So, let’s talk right now about the pros and cons of the various plans that lead to enrollment success.

Remember Farmville? This one game grew to $200M USD in revenue! Now, not so much.

Remember Google Vine as short-form video? Kinda faded away with the advent of Instagram video.

So now, we consider TikTok and wonder, how long will this one last? This one is sophisticated and is already valued at more than $1B USD. This new marketing channel is powerful as long as you have the creative talent to use it.

The rule is: creative content rules. Period.

And the reason we are talking about it is that your target audience is spending a bunch of time there right now. The image above is captured from my 17-year-old niece's TikTok account. She is a content creator there and she and her friends have a great deal of fun (and spend way too much time) in and on TikTok. 

So, about TikTok...in May, we wrote about the growth of Chinese EdTech and what opportunities that presented. As of last year, Chinese startups received over 50 percent of all global capital invested in EdTech. This year, of the top six EdTech unicorns—private companies worth more than $1 billion—all but one was Chinese.

With the largest population in the world, China is automatically the greatest educational market. With a population of over 1.4 billion, there’s a market of more than 283 million students. With 17 million new babies born a year in China, this pattern isn’t slowing down.

Outside of the educational realm, tech is still booming in China, and one platform from China is now the most valuable startup in the world. What might this have to do with connecting you to those potential students in China—or anywhere for that matter?

Read on…