Finance, Agreements, and Oversight Services

Finance Overview

UMOnline in collaboration with the academic department will develop a financial proforma to understand if the program is financially viable.

The financial proforma will include:

  1. Enrollment estimates for a minimum of 5 years
  2. Expenses
  3. Revenue

QUESTIONS TO CONSIDER FOR FINANCE SERVICES

  • What is the price per credit hour to the student?
  • What is the total price (to the student) to complete the program?
  • Ensure tuition and fees are assessed accordingly.
  • Send student communications regarding tuition due dates and cancellation dates.
  • What costs will be incurred to develop and deliver the program?
  • What is the cost to deliver instruction?
  • What are the non-instructional costs?
  • What are the expected costs of new support staff?
  • What is your expected revenue?
  • What type of support does the department need from the college or university?
  • What is the estimated margin?
  • What is the expected revenue distribution model for the program? (Include university, OPM, college, department).
  • Are you working with faculty from other departments? If so, have you considered sharing a percentage of the net profit with that department?
  • Assess proposed program's operational feasibility, student’s return on educational investment (ROEI) and cost to deliver instruction and service.
  • Propose data-based changes to product design to improve feasibility.
  • Do you have enough faculty members interested in teaching online? Will you need additional faculty or staff?
  • Will your program be financially sustainable?
  • What is the estimated margin?

What is your program growth plan?

  • What is your planned enrollment at launch?
  • What is your planned enrollment in 5 years?
  • Do you have capacity constraints?

Tuition and Fees

  • What is the price per credit hour to the student?
  • What is the total price (to the student) to complete the program?
  • Ensure tuition and fees are assessed accordingly.
  • Send student communications regarding tuition due dates and cancellation dates.

  • What costs will be incurred to develop and deliver the program?
  • What is the cost to deliver instruction?
  • What are the non-instructional costs?
  • What are the expected costs of new support staff?
  • What is your expected revenue?
  • What type of support does the department need from the college or university?
  • What is the estimated margin?

  • What is the expected revenue distribution model for the program? (Include university, OPM, college, department).
  • Are you working with faculty from other departments? If so, have you considered sharing a percentage of the net profit with that department?

  • Assess proposed program's operational feasibility, student’s return on educational investment (ROEI) and cost to deliver instruction and service.
  • Propose data-based changes to product design to improve feasibility.
  • Do you have enough faculty members interested in teaching online? Will you need additional faculty or staff?
  • Will your program be financially sustainable?
  • What is the estimated margin?

What is your program growth plan?

  • What is your planned enrollment at launch?
  • What is your planned enrollment in 5 years?
  • Do you have capacity constraints?

Agreements and Oversight

UMOnline will facilitate different types of agreements and the oversight of 3rd vendor parties’ relationships.

Are you interested in learning more about the OPM’s process? Please reach out to Maricel Lawrence or Eric Vorkoeper.