I know that there have been schools that have tried to “reset” their prices back to more “normal” levels, but it seems that strategy does not always produce success. Many people are lured in by sticker price and the lure of “value.” Meaning the thought process of…tuition is “worth” $50,000, but they’re giving me a $20,000 merit award, so I’m really getting an education at 40% off by paying $30,000. This is for the schools where 97% (or more) of their students are receiving large merit awards). They’d rather pay $30k for a school with a higher sticker price for tuition than to attend a school that just admits that tuition costs $30k, because it’s “worth” more.
All of that to say, sticker prices don’t mean diddly at schools where more than 50% of students are receiving merit aid.