NY Times: More Private Colleges Cut Tuition As Discount Rate Hits All-Time High Of 52%
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Following up on my previous post, Private College Tuition Discount Rate Hits All-Time High Of 52%: New York Times, More Private Colleges Are Cutting Tuition, but Don’t Expect to Pay Less:
[A] small but rising number of mostly private liberal arts colleges … are cutting their tuition prices. But what they’re actually doing is reducing their advertised rates, which only the wealthiest students usually pay. At the same time, the colleges are also reducing the heavy discounts they offer to everyone else. The result is a new sticker price that more closely reflects what students already pay.
Institutions are making the change out of economic necessity: As college costs have soared, expensive smaller schools risk being bypassed as applicants seek more affordable options.
The colleges hope the truth in advertising will attract more applicants, including transfer students, and increase retention rates.
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