Weekly Market Update
RECENT TUITION DISCOUNT DATA
Thursday, March 21, 2019
The average tuition discount rate for first-time, full-time freshmen during the 2017-2018 academic school year was 49.9%, according to NACUBO. College Board recently reported that average tuition at a private nonprofit four-year institutions is $35,830, but that, on average, students are paying $14,660 after financial aid, during the 2018-19 academic year. A high discount rate to attract students may be particularly damaging to tuition dependent institutions. Several small private colleges have announced their closures in the recent months citing student loss or financial difficulties, and Moody's Investors Service expects closures and mergers to increase in the coming years.
In Other News
- Dr. Carol Folt, former chancellor at University of North Carolina at Chapel Hill, was chosen as the next president of the University of Southern California.
- The University of Akron offered 340 of its 720 faculty members a Voluntary Separation or Retirement Program to balance its budget and further strategic investments.
- The California Association of Nonprofits is backing a new bill that would regulate donor-advised funds through annual reporting requirements, best practice implementation, and annual distribution requirements.
- Cornell University will no longer require its English Ph.D. applicants to submit their Graduate Record Examination (GRE) scores. Harvard University also eliminated the requirement last year.
- Rider University selected online program management provider Pearson Education as a partner to expand its online degree programs.