"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.'"
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Publication Date: 10/13/2017