Eco 204 paper 1 | Business & Finance homework help
At Northeastern State University (NSU), the primary process for generating revenue is through tuition and fees paid by students. When new students enroll, the university receives an influx of money from tuition payments made by those students. This increased revenue can be used to fund academic programs, pay faculty and staff salaries, and invest in needed infrastructure improvements.
However, there may be a trade-off between the amount of revenue generated by new student enrollment and potential lost revenue due to lower enrollment if tuition is raised too much. For example, a higher tuition rate could discourage some prospective students who are unable or unwilling to pay the cost associated with attending NSU. If this occurs, then there would be fewer enrolled students paying tuition which means that overall revenues would decrease as a result.
To maintain an optimal balance of increased revenue from new student enrollment versus lost revenue from lower enrollment due to high tuition costs; NSU utilizes strategies such as offering scholarships and financial aid packages to attract more students who may not otherwise have been able to afford attendance at the university. Furthermore, NSU has implemented measures such as improving its academic offerings in order to increase its appeal among prospective students who are considering multiple universities when deciding where they should attend college.