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Thread: Tuition Resets (Reducing the "List Price" of higher education)

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    Tuition Resets (Reducing the "List Price" of higher education)

    The "List Price" of college tuition is before "discounts" such as scholarships and financial aid.

    Around the USA I note that some non-profit private colleges have been Resetting Tuition.
    Colby-Sawyer College, New London NH, reduced tuition for undergraduates from $46,364 to $17,500.
    Washington and Jefferson College, Washington PA, reduced from $49,650 to $27,605.
    Lenoir-Rhyne University, Hickory NC, reduced from $43,000 to $30,000.

    And in the beautiful state of Vermont, the University of Vermont, Burlington, is making tuition free for in-state students if their family AGI is <$60,000

    I would like to know more about the trend to tuition resets. Is it simply supply and demand? ... Did colleges raise tuition prices too high? Do colleges need to lower their prices to slow the decline in enrollment? When the tuition is reset, do students actually pay less, after discounts?

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    Senior Member iris lilies's Avatar
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    Quote Originally Posted by dado potato View Post
    The "List Price" of college tuition is before "discounts" such as scholarships and financial aid.

    Around the USA I note that some non-profit private colleges have been Resetting Tuition.
    Colby-Sawyer College, New London NH, reduced tuition for undergraduates from $46,364 to $17,500.
    Washington and Jefferson College, Washington PA, reduced from $49,650 to $27,605.
    Lenoir-Rhyne University, Hickory NC, reduced from $43,000 to $30,000.

    And in the beautiful state of Vermont, the University of Vermont, Burlington, is making tuition free for in-state students if their family AGI is <$60,000

    I would like to know more about the trend to tuition resets. Is it simply supply and demand? ... Did colleges raise tuition prices too high? Do colleges need to lower their prices to slow the decline in enrollment? When the tuition is reset, do students actually pay less, after discounts?
    ummm, yes!

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    It was an odd semester at the community college where I teach--we went tuition free for classes for everyone but I am not sure why. We were also not allowed to remove students for non-attendance, which has always been related to financial aid. So I will fail many more students than usual.

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    Senior Member Yppej's Avatar
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    Maybe competition from online schools also.

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    Quote Originally Posted by Tybee View Post
    It was an odd semester at the community college where I teach--we went tuition free for classes for everyone but I am not sure why. We were also not allowed to remove students for non-attendance, which has always been related to financial aid. So I will fail many more students than usual.
    When I was searching on this topic, I noticed Trident Tech, Charleston SC, was tuition-free for all programs of study including university transfer programs. The stated reason was that area employers have been unable to fill vacant positions, so the community college is removing any cost obstacles for a potential student who could complete a program and possibly fill a job vacancy.

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    Quote Originally Posted by dado potato View Post
    When I was searching on this topic, I noticed Trident Tech, Charleston SC, was tuition-free for all programs of study including university transfer programs. The stated reason was that area employers have been unable to fill vacant positions, so the community college is removing any cost obstacles for a potential student who could complete a program and possibly fill a job vacancy.
    Interesting; I teach in a college in SC so maybe that was the rationale.

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    Senior Member flowerseverywhere's Avatar
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    Young people just might be more aware due to social media of the mess you can get into with loans.

    If you look at the federal loan website you might get up to $12,000+ for each undergrad year and up to 22,000+ for each graduate student t year. Plus private loans. Parents can take loans. That is how schools thought they could charge so much. People were actually doing this.

    We have a relative who at age 29 working one full and one part time job and cannot afford to move out of her parents home and she dies not live extravagantly. The private school she attended costs far more than she can afford to pay back. It currently costs $85,000 per year. And her family is only middle class wage earners so they help her but there isn't enough money. She did not train for a high paying career unfortunately.

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    Senior Member Tradd's Avatar
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    Quote Originally Posted by flowerseverywhere View Post
    Young people just might be more aware due to social media of the mess you can get into with loans.

    If you look at the federal loan website you might get up to $12,000+ for each undergrad year and up to 22,000+ for each graduate student t year. Plus private loans. Parents can take loans. That is how schools thought they could charge so much. People were actually doing this.

    We have a relative who at age 29 working one full and one part time job and cannot afford to move out of her parents home and she dies not live extravagantly. The private school she attended costs far more than she can afford to pay back. It currently costs $85,000 per year. And her family is only middle class wage earners so they help her but there isn't enough money. She did not train for a high paying career unfortunately.
    I have no sympathy for people who choose to go to expensive private schools they need loans to attend. She got herself into the mess, she can deal with the consequences. Why should she get bailed out?

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    Senior Member flowerseverywhere's Avatar
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    Quote Originally Posted by Tradd View Post
    I have no sympathy for people who choose to go to expensive private schools they need loans to attend. She got herself into the mess, she can deal with the consequences. Why should she get bailed out?
    I don't think she should. DH and I went to state schools. Our kids went to state schools.and took career based majors. Her parents went to private schools and would often badmouthing state schools in front of us. Our kids were quickly debt free within a few years with our help. Because of that they are able to buy houses eventually which they are trying to early pay off.

    But that is why they tightened bankruptcy rules regarding school loans. People who went to work or they and their parents worked hard to save money should not pay for others who made different choices.

    Biden is lucky as many Democrats won in the midterms. His announcement of forgiveness really made people, including me, angry. Especially at a time when everyone is struggling with inflation.

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    Senior Member iris lilies's Avatar
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    Quote Originally Posted by flowerseverywhere View Post
    I don't think she should. DH and I went to state schools. Our kids went to state schools.and took career based majors. Her parents went to private schools and would often badmouthing state schools in front of us. Our kids were quickly debt free within a few years with our help. Because of that they are able to buy houses eventually which they are trying to early pay off.

    But that is why they tightened bankruptcy rules regarding school loans. People who went to work or they and their parents worked hard to save money should not pay for others who made different choices.

    Biden is lucky as many Democrats won in the midterms. His announcement of forgiveness really made people, including me, angry. Especially at a time when everyone is struggling with inflation.
    But Biden’s student loan cancelling rhetoric did what it was intended to do, get the votes. He knew it wouldn’t stand in court, it didnt stand in court. Just more bs from his administration, more Illegal executive orders.

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