The increasing cost of earning a degree has been the subject of intense debate during the past few months. However, according to a new study published by risk management firm Moody's, many schools are increasing the amount of tuition discounts available to students to remain competitive, reports The Chronicle of Higher Education.
The results of the study suggest that more than half of the 257 colleges polled increased discounts on their tuition fees between the fall of 2010 and 2011. Additionally, 22 percent of universities increased tuition discounts by more than 2 percent. Forecasts for further discounts also look promising for students considering filling out college applications next year, with 18 percent of private schools and 17 percent of public colleges predicting similar reductions, according to Inside Higher Ed.
Although smaller colleges with lower enrollment levels could face increased competition from larger public universities, the news could mean more choices for students, and greater accessibility as institutions compete to attract more students.
If you're considering filling out a college application, make sure to ask the admissions officials at your prospective schools if they offer discounts in tuition. You should also look into merit-based financial aid packages such as scholarships, as these programs can help offset the cost of earning your degree.