Aug 15, 2019, 1:44 PM
(From the New York Times) As college costs have soared, more expensive smaller schools have cut their advertised tuition rates in an effort to attract more applicants and increase retention. Last year, the total of colleges “resetting” their tuition surged to 18, according to an analysis by Mark Kantrowitz, publisher and higher education researcher. So far for 2019-20, five private colleges have trimmed their tuition prices, by 16 to 57 percent, and more are expected to join their ranks, predicted Kantrowitz.
While the result is a new advertised price that more closely reflects what students already pay, colleges are also reducing the heavy discounts they offer to everyone else. Consultants say it is difficult to answer whether reducing tuition has its intended effect for these schools, and the effectiveness of reduced tuition will depend on the school’s goals and how the plan is executed.
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