It's something you don't hear about often, but St. Paul's Concordia College making a bold move. They are cutting tuition costs for undergraduates.
Typically you hear about tuition increases, but in this case it's a 20% drop beginning next fall. And it follows other colleges across the country, mostly small and private, that are taking similar measures due to affordability concerns.
Concordia University, St. Paul President Brian Friedrich told Vineeta Sawkar on the WCCO Morning News it's mainly about making the confusing price of going to college a little less complicated.
"Yeah, the why has to do with really three things: affordability, transparency, and our concern about student debt and return on their investment in higher education," explains Friedrich.
With the discount, undergraduate tuition at Concordia is roughly $21,700, a $5,500 drop. That doesn't include the price of merit or need-based scholarships.
Friedrich explained what's behind the decision.
"We know one of the realities is sticker shock," he said. "So many times students see a sticker or a tuition price and they just give up, and say, 'I'm not even going to consider college.' And we want to be in a position that students will consider college."
The school says that CSP "has always been committed to keeping tuition costs low while offering career-focused degrees designed to prepare students for lifelong success."
They add that they've positioned themselves to be able to do this after growth spurred by 2013 tuition reset, multiple new revenue streams, and strategic financial decisions.
"We know one of the realities is sticker shock," says school President Brian Friedrich
"We know one of the realities is sticker shock," says school President Brian Friedrich
