Hundreds of higher education institutions are procuring algorithms that strategically allocate scholarships to convince more students to enroll. In doing so, these enrollment management algorithms help colleges vary the cost of attendance to students’ willingness to pay, a crucial aspect of competition in the higher education market. This paper elaborates on the specific two-stage process by which these algorithms first predict how likely prospective students are to enroll, and second help decide how to disburse scholarships to convince more of those prospective students to attend the college.