CNN Money reports that a growing number of colleges are taking extreme measures to attract more students by cutting tuition or speeding up the rate at which they graduate:
While some private colleges are introducing double-digit percentage cuts in tuition or freezing prices altogether, other schools are offering three-year degree programs or four-year graduation guarantees.
In part, these schools are responding to consumers’ concerns about the rising cost of college, said Tony Pals, spokesman for the National Association of Independent Colleges and Universities. “These types of initiatives have been used to some degree in the past, but have become increasingly prevalent since the economic downturn — and we expect to continue to see them spread,” he said.
But colleges have their own motivations as well. By offering a more competitive price, they are ultimately hoping to attract more students — and increase their bottom line, said Mark Kantrowitz, publisher of financial aid website Finaid.org.
Will this actually work? Is it what students are looking for?
Find out more: