Private nonprofit colleges are providing students a record level of tuition discounts, but those efforts have not been enough to stave off a steady decline in enrollment.
That is one of the key findings of an annual tuition discount study released today by the National Association of College and University Business Officers, or NACUBO.
The share of first-time, full-time freshmen who received an institutional grant of any amount also rose from 87.2 percent in the 2015-16 academic year to 87.9 percent in 2016-17, the survey found.
Kenneth E. Redd, director of research and policy analysis for NACUBO, said the study “suggests that many private colleges and universities are making great efforts to meet their students’ financial need.”
He noted that on average, more than 75 percent of all undergraduates — not just first-time, full-time freshmen — are receiving institutional grants, and that those grants cover half the tuition and fee price. He added that more than three-fourths of institutional grant aid is given to meet students’ financial need through a combination of need-based grants and merit-based grants awarded to students with need.
“For many students and families who want to attend private colleges, the results of our study should be somewhat encouraging news,” Redd told Diverse.
