Study: Private colleges pressured to drop sticker price on tuition
- According to a recent study by the National Association of College and Business Officers, tuition discounts for undergraduates at private institutions across the country average 42.5%, significantly reducing the sticker shock of college tuition.
- For first-time freshmen, that rate increases to 48.6%, a discount rate that has increased more than than 10% over the last decade.
- While 44% of families wait to receive a financial aid package before deciding on a school, officials indicate growing pressure to offer scholarships and institutional aid to ensure stabilized enrollment.
Tuition-driven institutions will always be under pressure to offer tuition rebates, because without them, public institutions and appropriation-supported aid programs will always be able to accommodate student need on a wider scale. Even public institutions are struggling with how to entice students to attend certain schools, given the increasing recruitment of out-of-state students and the ability of private schools to offer more of a nurturing learning environment.
For private institutions, bigger emphasis must be placed on research and development in order for federal funding to support faculty teaching and innovation, while corporate and private philanthropy lend greater support to student access and services. Public institutions can always focus on student needs as appropriations, when they are actually given, helping to support capital development and student services.
- US News & World Report Study: Private colleges up tuition discounts