Monday, May 13, 2019
Private College Tuition Discount Rate Hits All-Time High Of 52%
2018 NACUBO Tuition Discounting Study:
In the 2018 NACUBO Tuition Discounting Study, 405 private, nonprofit colleges and universities reported an estimated 52.2 percent institutional tuition discount rate for first-time, full-time students in 2018-19 and 46.3 percent for all undergraduates – both record highs. This means that for every dollar in gross tuition and fee revenue collected from all students, institutions used nearly half for financial aid, including grants, scholarships, and fellowships.
Over the past decade, these private colleges and universities have increased their average institutional grant for first-time freshmen by 91 percent, from $10,586 in 2008-09 to $20,255 in 2018-19. This year, an estimated 89.8 percent of freshmen received financial aid from their private colleges and universities, which covered nearly 60 percent of the listed tuition and fees. More than three-quarters was awarded as need-based aid or was merit-based aid that helped meet demonstrated financial need.
Wall Street Journal, Private Colleges Offer Record Discounts as Tuition Costs Rise