According to an article in The Washington Post, many schools are increasing tuition in order to provide applicants with better discounts, making schools potentially more attractive.
The article states that offering substantial discounts on tuition accomplishes two things. Firstly, it tells prospective students and their families that a school's degree programs have worth, and secondly, it creates the impression of value for money.
"[The] perceived value [of a degree program] is important," said Miriam Pride, president of Blackburn College in Illinois, as quoted by the news source. "The dollar amount of our discounts is very valuable to our students and their families."
The discount rate at many schools across the country is approaching 50 percent. That means that for a student enrolled in a degree program with a sticker value of $50,000 per year, they may only pay around $30,000.
The Chronicle of Higher Education reports that 54 percent of private colleges increased discounts on tuition between the fall of 2010 and 2011. At 22 percent of colleges, the average tuition discount increased by more than 2 percent.
If you're considering filling out a college application, take the time to research tuition discounts. What may seem like a great deal might not always be the case, especially if a prospective school has raised tuition just to offer deeper discounts.
Tags: college application