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From the WAPO: Attention, college shoppers. These schools are slashing their prices.

jym626jym626 Registered User Posts: 56,281 Senior Member
This may go behind a paywall after a few clicks, so I will copy some interesting snipits:
https://www.washingtonpost.com/local/education/attention-college-shoppers-these-schools-are-slashing-their-prices/2019/01/21/e384eca0-12bc-11e9-90a8-136fa44b80ba_story.html?noredirect=on&utm_term=.2e41897cc8f7
St. John’s College slashed tuition from $52,734 in this school year to $35,000 in the next.

The liberal arts school, with campuses in Maryland and New Mexico, joined more than 20 others nationwide that have reduced prices in the past three years....

Twenty-three private institutions have reduced tuition since 2016, according to the National Association of Independent Colleges and Universities. “The trend is beginning to pick up,” said David L. Warren, the association’s president. These schools view cuts as “an important tool,” he said, to help them stand out in a crowded market.

......many schools have few full-pay students. The Washington Post found more than 310 colleges and universities in 2016-2017 where at least 95 percent of undergraduates received grants or scholarships. (For St. John’s, the share was 97 percent on its Annapolis campus, 99 percent in Santa Fe, N.M.)

At such schools, sticker price may be more of an aspirational statement than a revenue generator.
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Replies to: From the WAPO: Attention, college shoppers. These schools are slashing their prices.

  • happymomof1happymomof1 Registered User Posts: 28,713 Senior Member
    If you've already hit your free limit at the WAPO this month on the device you are using, just clear your browser history, or switch to a different browser and that should do the trick. :) I'm local so I finally gave up and paid for a subscription.
  • thumper1thumper1 Registered User Posts: 73,723 Senior Member
    Can we just start a list of colleges that are cutting costs for the 2019-2020 academic year?

    Which St. John’s??
  • jym626jym626 Registered User Posts: 56,281 Senior Member
    Its in the article :)
  • jym626jym626 Registered User Posts: 56,281 Senior Member
    edited February 8
    Can't quote too much copyrighted stuff at once (but will repost what is in the OP):
    St. John’s College slashed tuition from $52,734 in this school year to $35,000 in the next.
    The liberal arts school, with campuses in Maryland and New Mexico, joined more than 20 others nationwide that have reduced prices in the past three years.
  • Mwfan1921Mwfan1921 Registered User Posts: 878 Member
    edited February 8
    IMO colleges that have been reducing their sticker price via merit and other types of aid are also providing reductions of full price. Schools in relatively lower tiers have to decrease the sticker price at relatively higher percentages to attract students.
    If you've already hit your free limit at the WAPO this month on the device you are using, just clear your browser history, or switch to a different browser and that should do the trick. I'm local so I finally gave up and paid for a subscription.

    Also, amazon prime users can get 6 months free, then $3.99 month thereafter. Or, one can paste the link into an incognito window. ;)
  • bearpantherbearpanther Registered User Posts: 618 Member
    Elizabethtown College sent us emails that it was reducing tuition 32% to what it was ten years ago.

    https://www.pennlive.com/news/2018/09/tuition_to_be_cut_by_a_third_a.html

    "Student financial aid packages will vary based on their individual family circumstances. Although those packages may be smaller than in the past, ideally the students' out-of-pocket costs will remain the same or will smaller, said college spokeswoman Elizabeth Braungard.

    For this year's entering freshman class, the average net tuition price after Elizabethtown's grants and scholarships are factored in, was approximately $29,000, Walter said.

    Outside of tuition and room and board, the only additional fee that Elizabethtown students pay is a $100 parking fee. Its current sticker tuition price falls in the middle of what other Pennsylvania private colleges charge; the change in model will push it closer to the lower-cost schools. "
  • jym626jym626 Registered User Posts: 56,281 Senior Member
    Merit awards lower the sticker price for only some students, whereas a reduction in the Tuition/fees lowers it for all students. A year or so ago Mills lowered its tuition significantly. They have been having financial troubles and want to increase enrollment (I assume). Several of the other schools that have done this are smaller, lesser known schools, and also others that were struggling financially (eg Sweet Briar). Drew U and Birmingham Southern are also cutting tuition.
  • jym626jym626 Registered User Posts: 56,281 Senior Member
    And another point in the article linked in the OP-- some of these schools were offering scholarships to almost all of its students anyway..
    But many schools have few full-pay students. The Washington Post found more than 310 colleges and universities in 2016-2017 where at least 95 percent of undergraduates received grants or scholarships. (For St. John’s, the share was 97 percent on its Annapolis campus, 99 percent in Santa Fe, N.M.)
  • SatchelSFSatchelSF Registered User Posts: 1,285 Senior Member
    These schools need to be careful. Time to go back to Econ 101 and learn about "Veblen goods."

    Perception is reality. Keep those discounts under wraps!
  • ucbalumnusucbalumnus Registered User Posts: 73,616 Senior Member
    SatchelSF wrote:
    These schools need to be careful. Time to go back to Econ 101 and learn about "Veblen goods."

    It could very well be the case that some colleges are Veblen goods (where demand increases as the price increases) but others are not. Colleges which offer scholarship / FA discounts to 95+% of their students may be less likely to be or see themselves as Veblen goods.
  • bclintonkbclintonk Registered User Posts: 7,623 Senior Member
    An extremely high sticker price at a second- or third-tier school is also going to scare off some potential applicants who don't get as far as checking the Net Price Calculator and the school's FA policies.

    On the flip side, though, some people think they're getting a great bargain if they're offered a $15K discount off a $50K sticker price, and will see that as more desirable than a school charges $35K straight up with no discount. Especially if the discount is marketed as a "merit scholarship," appealing to their ego.
  • CreeklandCreekland Registered User Posts: 4,983 Senior Member
    These schools need to be careful. Time to go back to Econ 101 and learn about "Veblen goods."

    Perception is reality. Keep those discounts under wraps!

    I agree. I hear more kids and parents talking about the merit scholarship they got awarded bringing a "really nice school" down into play with "other" perceived lesser schools (like some state schools) and the scholarship factor is a big influence. It doesn't matter than 97% got the merit scholarship (essentially a discount). It only matters that they were special enough to get it. They aren't digging deep into these schools to consider whether the higher priced one truly is really good compared to the lower priced one. That's a given in their minds.

    It wasn't that long ago that most colleges were raising their price to match others due to the perception.

    I guess I'd be leery that colleges switching back weren't being competitive attracting students and were grasping at straws to try to garner interest in them. It might work with the headlines as folks could see it as a bargain still, but once the headlines are shuffled out of the limelight... what then?
  • MYOS1634MYOS1634 Registered User Posts: 39,582 Senior Member
    So. Do we start the list?
  • natty1988natty1988 Registered User Posts: 192 Junior Member
    @Creekland good point!
  • thumper1thumper1 Registered User Posts: 73,723 Senior Member
    Its in the article

    Which is behind a paywall. @jym626

    Thought it might be nice to list some of them on this forum.
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