College-Matters

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Colleges Reducing Tuition.... Yes, you read that right!

Could it be?  Some colleges and universities are actually lowering their tuition?  We have been closely monitoring the demographic shift and how it may impact our college-bound students.  Now that the Millennials have largely moved through the US higher education system, many colleges and universities are grappling with various strategies to attract students in a climate where fewer students are applying to college.  In recent weeks, both St. John’s College in Maryland and Drew University in New Jersey announced that they would be reducing their tuition.  St. John’s lowered its tuition from $52,000 to $35,000 and Drew will be slashing tuition by 20%.  Another creative approach we have seen from private colleges that tend to compete for students with in-state public universities is price-matching programs, whereby students pay a similar amount at a private college as they would at their flagship university.  Robert Morris University and Oglethorpe University both announced these types of price-matching programs in August.  This recent flurry of tuition reset programs has us wondering if this is just the beginning of a larger trend.  So, stay tuned, and we will keep our fingers crossed.