Forbes: “For decades, the cost of college in the US has risen meteorically. But now, a four-year degree has become so expensive that some colleges and universities think costs have hit somewhat of ceiling – and are slashing tuition by as much as 50% in hopes they can attract more students .. So far the move – known as a “tuition reset” – has had middling results. Only 27% of schools studied by the Education Advisory Board that had employed tuition resets as a strategy managed to sustain enrollment gains of 5% or more. In addition, only 29% of schools managed to meet a 3% revenue growth target following their tuition reset.”
“Small, private, liberal arts institutions are predominantly the ones electing to adopt tuition resets. Ten schools pursued the strategy this year, and four have already announced cuts for 2019-2020. Seton Hall University, a private Catholic school, slashed tuition by 61% in 2012-2013. Sweet Briar College, a women’s liberal arts institution in Virginia that announced it would close in 2015 – and was resurrected by alumnae the next year – reduced tuition by 32% this year.”
“The College of William and Mary, an elite public school in Williamsburg, Virginia, in 1999 was among the first to pursue a reset, though the concept has become trendy just in the last few years. More than four dozen schools used the tactic in the past decade, and more are likely to follow.”
