Colleges Slash Sticker Prices
But lower published prices may not save you money.
The cost of attending college usually moves in one direction: up, and often quickly. Over the past decade, the published cost of tuition and fees has increased 27% at private not-for-profit four-year colleges and 41% for in-state students at four-year public colleges. But a growing number of colleges have been reversing the trend by slashing their sticker prices.
More than three dozen mostly small and midsize private colleges have announced tuition cuts since 2011. This fall, Drew University announced that it would reduce the cost of tuition for the 2018–19 academic year by 20%, and Birmingham-Southern College cut its sticker price by more than 50%. Look for more schools to announce similar price cuts as states, such as New York, pursue programs to make public college tuition-free for in-state students, says David Warren, president of the National Association of Independent Colleges and Universities. Many schools hope the change will make them appear more affordable and will attract more applicants.
But a cut in tuition or other published costs may not save you much money. Often, the reduced sticker prices are closer to what many students were already paying after factoring in financial aid. The main beneficiaries will be families that qualify for little or no aid.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
-
Use An iPhone? You May Be Hearing From A Class-Action Lawsuit Group
A handful of suits against the iPhone maker seek to crack down on everything from app store purchases to messaging.
By Keerthi Vedantam Published
-
Capital One/Discover: What's In Their Wallet For You?
Push back on Capital One's planned merger with Discover is growing with one group of consumer advocates calling for a public hearing.
By Keerthi Vedantam Published
-
403(b) Contribution Limits for 2024
retirement plans Teachers and nonprofit workers can contribute more to a 403(b) retirement plan in 2024 than they could in 2023.
By Jackie Stewart Published
-
Roth IRA Contribution Limits for 2024
Roth IRAs Roth IRA contribution limits have gone up for 2024. Here's what you need to know.
By Jackie Stewart Published
-
Four Tips for Renting Out Your Home on Airbnb
real estate Here's what you should know before listing your home on Airbnb.
By Miriam Cross Published
-
Five Ways to a Cheap Last-Minute Vacation
Travel Procrastinator? No matter. You can pull off a fun and memorable getaway on a moment's notice — without breaking the bank.
By Vaishali Varu Last updated
-
How Much Life Insurance Do You Need?
insurance Instead of relying on rules of thumb, you’re better off taking a systematic approach to figuring your life-insurance needs.
By Kimberly Lankford Published
-
When Is Amazon Prime Day?
Amazon Prime In 2023 Amazon had two Prime Day events — one in July and another, called Big Deal Days, in October. We expect 2024 to follow the same schedule.
By Bob Niedt Last updated
-
How to Shop for Life Insurance in 3 Easy Steps
insurance Shopping for life insurance? You may be able to estimate how much you need online, but that's just the start of your search.
By Kaitlin Pitsker Published
-
5 Ways to Shop for a Low Mortgage Rate
Becoming a Homeowner Rates are high this year, but you can still find an affordable loan.
By Daniel Bortz Published