College Tuition Discount Rate Close to 50 Percent
The National Association of College and University Business Officers’ (“NACUBO”) latest study shows that tuition discounts at colleges and universities are on the rise again. Due to low tuition revenue and weak enrollment numbers, the average tuition discount rate in 2016-17 for a first-time, full-time student increased to 49.1 percent (48 percent for previous year). Counting all undergraduates, the average rate increased to 44.2 percent (43 percent for previous year), marking new record highs for the annual study. NACUBO’s Ken Redd contributes higher financial needs since the Great Recession and growing competition for new students due to a decreasing number of high school graduates as the reasons behind the rise in tuition discounts.