Paper (Tuition) Cuts — from insidehighered.com by Ry Rivard

Excerpt (emphasis DSC):

A spate of small private liberal arts colleges are dramatically slashing their sticker prices in an effort to, they say, tell the truth about the real cost of college, help families and attract new students.

The price cuts – which, for some students, may be more on paper than actual reductions in out-of-pocket expenses – 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.

…

“We realized just how incredibly affordable we were once you cut through all the published rates,” said President Betsy Fleming.

Some students and families, of course, didn’t realize that either, and so may have shied away from applying. “We looked at it as being very confusing,” she said, “saying, Well, we cost this much, but don’t worry, we’ll help you figure out how to make it affordable.”

 

From DSC:
It’s about time! I’ve been suggesting for the last 5 years that there’s a Walmart of Education developing — i.e. degrees at 50%+ discounts from what they once were.  This  development — in the forms of MOOCs, partnerships, consortia, other — has caused an enormous downward pressure on the price of a degree. 

While I realize this won’t affect what many students are paying out-of-pocket anyway, I’m still hopeful that this trend will:

  • Encourage those students on the fence about attending college to still go to college
  • Continue and that it will encourage other colleges and universities to do the same
  • Force colleges and universities to innovate/experiment more, to be more responsive and in much more significant ways
  • Significantly lessen the “sticker shock” experienced by many people out there when considering what to do about their sons’/daughters’ educations
  • Lessen the needs to devote a significant amount of time to understanding the labyrinth of financial aid packages and options out there

 This is a welcome and long overdue step.

 

Addendum from DSC:
I just ran across “Colleges in U.S. offer highest-ever discount to entice students”, which encourages me further.