Virginia: This College Just Lowered Its Tuition by More Than 30%

"With higher education costs skyrocketing across the country, Sweet Briar College, a women's liberal arts college in rural Virginia, is making headlines because it's slashing tuition and fees," WBS-TV reports.

"The private college’s new rates are a 32% reduction from the 'sticker price' that few people actually pay.

Sweet Briar says the changes for the 2018-2019 academic year provide cost transparency and predictability for families of all income levels. The total for tuition, fees, room and board will be $34,000.

Need-based financial aid and scholarships will continue, but the discount rate is expected to drop significantly.

'Discount rates are confusing for students and families, and the high-tuition, high-discount rate model only works for a small number of institutions,' said Meredith Woo, president of Sweet Briar College. 'It requires a large number of full-pay students or an exceptionally large endowment for the numbers to work.'"

NASFAA's "Headlines" section highlights media coverage of financial aid to help members stay up to date with the latest news. Inclusion in Today's News does not imply endorsement of the material or guarantee the accuracy of information presented.

 

Publication Date: 10/13/2017

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