Paper (Tuition) Cuts
Career College Central summary:
A spate of small private liberal arts colleges are dramatically slashing their sticker prices in an effort to, they claim, tell the truth about the real cost of college, help families and attract new students.
The price cuts are not a new phenomenon, but the rate at which small colleges are adopting the maneuver, as well as tuition freezes, appears to be picking up speed.
In the past few weeks, two colleges — Ashland University in Ohio and Converse College in South Carolina – each announced reductions of more than $10,000 a year for students who enroll in fall 2014 and pay full price. They join other institutions that have announced similarly big cuts, including the University of Charleston in West Virginia, where cuts took effect last year, and Concordia University-St. Paul, where cuts took effect starting this semester.
The colleges each portray the efforts as a path to reducing the financial burden on students. And, indeed, they may, but not nearly as much as at first glance. That’s, in part, because the colleges have reduced their sticker prices to about what most students are paying already, given all the scholarships and aid that colleges give to lure students to high-tuition institutions. Hardly anyone was paying the old sticker price anyway.
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