Dive Brief:
- In a trend sometimes called a "tuition reset," some small private colleges are making big price cuts and hoping to avoid scaring away cost-conscious students.
- Converse College in South Carolina and Ashland University in Ohio are the latest examples, with tuition cuts around 40%.
- A study last year showed that about half of college-bound high school seniors said they judged colleges on their sticker price.
Dive Insight:
Declining enrollment means that colleges are having to fight harder to attract students. Smaller schools do not have the pricing power that larger, nationally recognized schools may have. One higher education consultant says that not all smaller colleges will jump on the "tuition reset" bandwagon because some are afraid they may be perceived as lower quality if they drop their price.