Amid all the grim news about the skyrocketing price of a college education, here’s something to celebrate: Colleges are asking students to shoulder less of the costs.
In the 2015-2016 school year, the discounts on tuition that private colleges gave to students in the form of scholarships and grants hit a record high, according to the National Association of College and University Business Officers (NACUBO) annual report.
Last school year, private colleges gave freshman an average tuition discount of 49%, and all undergrads an average discount of 43% off the published price of tuition.
At the same time, the percentage of students who received some discount on tuition and fees—88%—remained relatively steady, the NACUBO report says.
Doling Out DiscountsSuch discounting is nothing new. Rather, it is a continuation of a long trend of private colleges lowering prices to boost enrollment. Ten years ago, the average tuition discount was 34%, according to NACUBO.
“list prices” continue to rise….
Related: Financial Aid Leveraging.