Release Date: Thursday, February 09, 2012
by AnnaMaria Andriotis
SmartMoney
While tuition bills continue to skyrocket, a small but growing number of private colleges and universities are bucking the trend and going on sale.
At least six colleges announced plans to reduce tuition costs in the upcoming school year. Many of these schools say lower-cost higher-education will attract more students from middle-income families those with incomes too high to qualify for free federal financial aid, but not high enough to pay for college costs without going deep into debt. "We are hoping to recruit more students from that group than in the past," says Edwin Welch, president of University of Charleston, in West Virginia, which is slashing tuition by 22%. Others are looking to lure students away from nearby colleges that up to now have been more affordable, says Mark Kantrowitz, publisher of FinAid.org, which tracks financial aid issues.
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