RFI 2017-12 Financial Aid Leveraging

The state of Massachusetts, through Salem State University, has issued a Request for Information (RFI) seeking to partner with a firm that can provide a financial aid optimization solution. The University is looking to manage and control enrollment yields, discounting, and net revenue, as well as predict the impact of tuition and aid changes on enrollment behavior, determine if the University is under- or over-awarding, and project enrollment and net revenue for the next four years. The required deliverables include a historical analysis of student enrollment behavior, a competitor benchmarking study, an analysis of student retention factors, an econometric model, revenue optimization and awarding simulation testing, and enrollment and net revenue projections. Responses to the RFI are due by July 17, 2017, with potential finalist interviews to be completed by July 31, 2017. The University has allocated a budget of up to $50,000 for this project and may execute a contract with the selected firm for an initial term of approximately 120 days, ending December 15, 2017.

The RFI outlines the required response format, which includes a proposer profile, proposer personnel, project approach and methodology, references, and cost information. The University reserves the right to waive informalities and reject any or all bids, and the selected firm must agree not to discriminate against any employee or applicant for employment based on race, sex, color, religious creed, national origin, and/or ancestry. The University has not specified any set-asides or funding sources, and there is no mention of any incumbent vendors or current contractors.