Before COVID-19, Tuition Discount Rate Hit All-Time High Of 52.6%; Pandemic May Force 340 Colleges Out Of Business

nacubo

Private, nonprofit colleges and universities sharply discounted tuition and fees for most students this year, according to data reported to the National Association of College and University Business Officers (NACUBO) before the coronavirus pandemic hit.

In the 2019 NACUBO Tuition Discounting Study, 366 private, nonprofit colleges and universities reported an estimated 52.6 percent average institutional tuition discount rate for first-time, full-time, first-year students in 2019-20 and 47.6 percent for all undergraduates – both record highs. By providing grants, fellowships, and scholarships, these institutions forgo about half the revenue they otherwise would collect if they charged all students the tuition and fee sticker price