In 2015, Jonathan Gibralter got promoted to the president position of Wells College. After he was put into “office”, he realized that their enrollment was at an all-time low. Therefore, he put a study into place so all of the faculty would research the price of tuition compared to other schools, and they ended up finding that their tuition was about ten thousand dollars more than other schools in their area, which meant that many students didn’t even consider the college for enrollment at all.
Therefore, they cut the college an entire 25% for the 2019-2020 school year. Because of the lowered prices, the number of applicants to the school this year has greatly increased. So far, about 10 schools every year have reduced their tuition since 2012, whereas between 1987 and 2011, only 1 college per year decreased their tuition on an average basis. There are numerous colleges nationwide that have even cut their tuition cost by a third, and even one college that is reducing its tuition by a whopping 57 percent, which is the University of the Cumberlands in Kentucky’s wonderful city of Williamsburg.
So, does this mean that families are going to see some college relief? The truth is that no, they won’t. Unfortunately, when colleges begin to lower their tuition this greatly, the financial aid department lowers the amount of aid that they are willing to give to potential students. Therefore, the actual net cost of tuition unfortunately evens out to be about the same as it always is.