Colleges are getting the message that the skyrocketing cost of tuition hikes over the past 20-30 years are not sustainable. Students, and their families, are choosing colleges with lower tuition rates, and colleges are hearing this loud and clear. Several private colleges have cut their tuition up to 50% for 2021.
While it might seem that COVID-19 may be the cause for this sudden trend of reducing tuition, these talks were being discussed before the pandemic. When college tuition can cost upwards of $70,000 per year, many families are opting for more affordable options that allow them to plan for retirement, healthcare, and educating all of their children.
This is good news for students and families as they consider college options.