Administrative Fee—amount of money charged for each seat enrollment by WICHE, as the centralized broker, to cover the cost of its services.
Articulation—process by which course content from one institution is compared to that of another for purposes of determining whether to “count” the external course as an equivalent in meeting program requirements
Balance of Trade—recognition that an institution participating in ICE may achieve a “balance in trade” in revenues by:
Importing and exporting an equal number of seats across the institution during a certain period of time.
Importing more seats but using the FTE and savings from not developing and offering a course on its own to subsidize the cost to the student (if it would be higher) or to address other academic needs of the institution.
Centralized Broker—agency monitoring the activities of the consortium and providing billing and payment processing services for seats exchanged.
Collaborative Initiative—joint effort by two or more institutions to address common academic needs
Collaboration Fund—money set aside by a state or system for institutions to encourage and support collaborative activities between/among institutions such as online seat exchanges through ICE.
Commissioned Course—a course or section specifically created for one or more institutions by an agreement specifying the obligations of each party including the negotiated wholesale price and number of enrollees.
Common Wholesale Price—price per credit hour agreed upon and paid by members to buy/sell seats in online courses listed in ICE. The common wholesale price includes the fee to the teaching institution and the broker fee. In WICHE ICE, there is a common wholesale price for undergraduate courses and a different one for graduate courses. These common wholesale prices are set by the Steering Board at the annual meeting for the next fiscal year.
Contracted Services—an agreement to purchase seats in a course through ICE for a common wholesale or a negotiated wholesale price.
Enrolling Institution (EI)—institution enrolling the student.
Enrolling Institution Payment—the amount of money reserved by the enrolling institution for each seat enrollment in a jointly developed program. This may vary with the program.
FTE—support funding provided by a State to a state institution per enrollment in a course. In the ICE model, the FTE is reported by the Enrolling Institution—not the Teaching Institution. The Teaching Institution receives the tuition.
Marginal Revenue—additional money received by a Teaching Institution for selling excess seat capacity in an online course or additional money accured by an Enrolling Institution from the difference between the common wholesale or negotiated wholesale price and the EIs retail price charged to the student or from collecting FTE fees without the costs of creating and delivering a course.
Negotiated Wholesale Price—price per credit hour per seat when one or more Enrolling Institutions contracts for a guaranteed number of enrollments in a section or a new courses created by a Teaching Institution.
Retail Price—Price charged to a student for a seat in an online course imported through ICE. The Enrolling Institution is encouraged to charge the same price it charges for its other courses, but may increase it to cover its costs.
Revenue Split—the way in which revenue is split among the Teaching Institution and the Enrolling Institution and the centralized broker.
Seat Cost—this figure varies from one institution to another but in general includes the cost of the instructor and support staff. It is a factor used in setting the tuition and mandatory feescharged to a student by a Teaching Institution. It is not a factor in setting the common wholesale price charged in ICE exchanges as this is marginal revenue the institution would not otherwise receive. It is a factor in setting the negotiated wholesale price because the Teaching Institution has additional costs in creating a new section or course.
Teaching Institution (TI)—institution instructing the course.
Teaching Institution Payment—the amount of money paid by the centralized broker to the teaching institution for each seat enrollment.
Transfer—process by which a course offered by one institution is evaluated for acceptance by another institution. Although it may be accepted for general credit, it may not “articulate” to specific programs.
Transfer Model—transcripts for students at institutions using this model will usually list the name of the course and its providing institution along with the student’s outcome. The student may or may not be required to request an official transcript be sent to his home institution depending on existing arrangements between the institutions.
Transcript Model—institutions participating in WICHE ICE select and offer other members’ courses in their own catalog and their students who register for them find these courses listed on their transcript as though they were offered by their home institution.
Trustee Account—account set up by the broker to receive and expend funds for the exchange of seats through WICHE ICE. No indirect is charged to this account.
Wholesale Price—Agreed upon price for buying and selling a seat in an online course to other members of ICE. There are two types: a Common Wholesale Price and a Negotiated Wholesale Price. See definitions for each.