Enhancing Affordability

In light of the severe economic downturn, private colleges and universities are taking substantial steps to stay within financial reach for students and families from all backgrounds.

• New Affordability Initiatives for the 2009-10 Academic Year
  
  
• Affordability Initiatives Launched in 2008-09
  
  
• Continuing Affordability Initiatives that Started Prior to 2008-09

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> New Affordability Initiatives for the 2009-10 Academic Year

Newly announced affordability initiatives for 2009-10 not only help families facing tough economic times, but continue a trend that started earlier this decade and increased sharply in 2008-09. 

• Tuition Reductions
  
  
• Tuition Freezes
  
  
• Significantly Lower Tuition Increases
  
  
• Replacing Loans with Grants/Reducing Parental Contributions
  
  
• Matching Public University Tuition/Matching State Scholarship Programs
  
  
• Four-Year Graduation/Job Guarantees
  
  
• Accelerated Degree Programs
  
  
• Partnerships with Community Colleges
  

Tuition Reductions

Davis & Elkins College (Elkins, WV)

Davis & Elkins is lowering tuition by nearly one percent for 2009-10.

William Jessup University (Rocklin, CA)

William Jessup will decrease tuition by 2.5 percent for full-time undergraduate students for the 2009-2010 academic year and will expand scholarship programs for low-income students. The drop in tuition is believed to be the first in the university's 70-year history.

Tuition Freezes

Albany Law School (Albany, NY)

Albany Law School will not raise tuition for 2009-10.

Becker College (Worcester, MA)

Becker College is freezing tuition and fees for traditional and accelerated programs, and room and board, for the 2009-2010 academic year.

Benedictine University (Lisle, IL)

Benedictine will freeze tuition at its current 2008-09 level through Spring 2010 for traditional undergraduate students already attending the university, and have guaranteed that the 2009-10 freshman class will not see a tuition increase through Spring 2011.

Hillsdale College (Hillsdale, MI)

Hillsdale is freezing tuition, room, and board for the 2009-2010 academic year at 2008-09 prices.

Lincoln Memorial University (Harrogate, TN)

LMU is freezing tuition and room for 2009-10 at their current 2008-09 rates.

Lake Erie College (Painesville, OH)

LEO is freezing tuition for the 2009-10 academic year.

Merrimack College (North Andover, MA)

For 2009-10, Merrimack is freezing tuition, room, and board at its current 2008-09 level for all students.

Sierra Nevada College (Incline Village, NV)

SNC is freezing tuition for 2009-10 at 2008-09 levels.

West Virginia Wesleyan College (Buckhannon, WV)

West Virginia Wesleyan College's tuition will hold steady for the 2009-2010 academic year. It also is raising the amount of scholarship money it gives out by up to $1,500 for each scholarship.

Wheeling Jesuit University (Wheeling, WV)

Wheeling Jesuit is freezing graduate and undergraduate tuition for the 2009-10 academic year.

Yeshiva University (New York, NY)

Yeshiva is freezing undergraduate tuition for 2009-10.

Significantly Lower Tuition Increases

Agnes Scott College (Atlanta/Decatur, GA)

ASC's 2009-10 price increase is the college's smallest percentage increase in 35 years. The overall increase in tuition, mandatory fees, and room and board is 2.7 percent. See also: Matching Public University Tuition/Matching Grants and Scholarships

Augustana College (Rock Island, IL)

Augustana's tuition increase for 2009-10 (3.9 percent) will be its smallest tuition increase in 25 years.

Boston College (Boston, MA)

BC's 2.8 percent tuition and fees increase for 2009-10 will be its smallest in more than three decades.

Boston University (Boston, MA)

BU's tuition and fees increase for 2009-10 (3.8 percent) will be its smallest in 40 years.

Butler University (Indianapolis, IN)

Butler's tuition and fees increase for 2009-10 (3.5 percent) will be its smallest in 34 years.

Capital University (Columbus, OH)

Capital's 2.9 percent tuition and fees increase for 2009-10 will be its smallest in at least a decade.

Carnegie Mellon University (Pittsburgh, PA)

Carnegie Mellon is raising tuition and fees for new undergraduates by 2.9 percent, the smallest increase in 34 years.

Catholic University (Washington, DC)

Catholic's 2009-10 tuition and fees increase (4.1 percent) is its smallest in a decade.

Central College (Pella, IA)

Central's 2009-10 tuition and fees increase of 4.5 percent is its lowest tuition percentage increase in eight years.

Colorado College (Colorado Springs, CO)

CC's 4 percent increase in tuition for 2009-10 will be its lowest in more than 30 years.

Columbus College of Art and Design (Columbus, OH)

CCAD 2009-10 tuition increase and fees (3.4 percent) is its lowest since 1981.

Cornell University (Ithaca, NY)

Cornell's tuition and fees will increase by 4 percent, the lowest percentage increase since 1966.

Drake University (Des Moines, IA)

Drake will raise tuition and fees by 2.9 percent for the 2009-2010 academic year - the lowest increase in a decade.

Gettysburg College (Gettsyburg, PA)

Gettysburg's 2009-10 tuition and fees increase (2.9 percent) is its smallest increase in 40 years.

John Carroll University (University Heights, OH)

JCU's 2009-10 tuition and fees increase (2.8 percent) is the smallest annual increase in the university’s history.

Johns Hopkins University (Baltimore, MD)

Johns Hopkins will increase undergraduate tuition and fees by 3.8 percent for 2009-10, the smallest percentage growth in 35 years for the university's two largest undergraduate schools (school of arts and sciences, and school engineering). The 3.8 percent increase will be the lowest in 10 years in the school of nursing's traditional program, and the lowest percentage increase in at least 31 years for undergraduate musicians at the Peabody Conservatory.

Kenyon College (Gambier, OH)

Kenyon's tuition and fees will increase by three percent, the smallest increase in at least 32 years.

King's College (Wilkes-Barre, PA)

King's College's 3.9 percent tuition and fees increase is its lowest increase in 30 years.

Loras College (Dubuque, IA)

Loras College's 2009-10 tuition and fees increase (3.5 percent) is the college's lowest tuition increase in six years.

Massachusetts Institute of Technology (Boston, MA)

MIT's tuition and fees for 2009-10 will increase 3.8 percent, the smallest increase in eight years. Its total undergraduate financial aid budget will rise more than 10 percent to $81.6 million.

MGH Institute of Health Professions (Boston, MA)
The graduate school is increasing tuition for the 2009-10 academic year 3 percent, the smallest increase in 10 years.

Otterbein College (Westerville, OH)

Otterbein's increase in tuition and fees for of 3.4 percent 2009-10 is its lowest increase since 1963.

Pepperdine University (Malibu, CA)

Pepperdine's 2.9 percent increase in tuition and fees for 2009-10 is its lowest in 25 years.

Princeton University (Princeton, NJ)

Princeton is raising tuition and fees by 2.9 percent for 2009-10 - its lowest percentage increase in 43 years.

Quinnipiac University (Hamden, CT)

Quinnipiac is raising undergraduate tuition, fees, and room and board by 4.9 percent, the university's smallest increase in 20 years. Financial aid for students will be increased by 15 percent.

Roger Williams University (Bristol, RI)

RWU's 3.5 percent increase in tuition and fees for 2009-10 is the lowest in school history.

Salve Regina University (Newport, RI)

RU's tuition and fees increase of 2.7 percent is its lowest in more than a decade.

University of Denver (Denver, CO)

The University of Denver's tuition and fees increase for the 2009-10 academic year (4.9 percent) is the smallest in the last decade.

University of Evansville (Evansville, IN)

Evansville has announced a 3.5 percent increase in tuition and fees for the 2009-10 academic year - its lowest percentage increase in 12 years.

University of Notre Dame (South Bend, IN)

UND is raising tuition and fees by 4.4 percent - its smallest percentage increase since 1960.

University of Pennsylvania (Philadelphia, PA)

Penn has announced a 3.75 percent increase in tuition and fees for 2009-10 - its smallest tuition increase in 41 years.

University of Southern California (Los Angeles, CA)

USC's tuition and fees increase of 3.9 percent for 2009-10 is its lowest increase since 1969.

Worcester Polytechnic Institute (Worcester, MA)

WPI's tuition and fees increase for 2009-10 (2.9 percent) is its smallest in almost 20 years.

Replacing Loans with Grants/Reducing Parental Contributions

Boston University (Boston, MA)

Beginning in fall 2009, BU will replace need-based loans with grants for Boston residents who graduate from Boston public schools and are admitted to the university.

Cornell University (Ithaca, NY)

For 2009-10, Cornell University is expanding the financial aid initiative it launched in 2008-09. Last year, the university announced it was eliminating the loan expectation for those with family incomes below $60,000; now, it is also eliminating the parental contribution as well for those families. In addition, Cornell will reduce the parental contribution for selected students who have financial need and whose families have annual incomes above $60,000, and begin capping need-based student loans at $7,500 annually for students who have financial need and whose families have annual incomes above $120,000. Already, Cornell annually caps need-based student loans at $3,000 for family incomes between $60,000 and $120,000.

Manchester College (North Manchester, IN)

Beginning in 2009-10, as part of its Triple Guarantee, Manchester will offer grant aid to cover the full cost of tuition for academically strong low-income students who live in Indiana, and guaranteed financial aid for all full-time students. See also: Graduation/Job Guarantees

Rice University (Houston, TX)

For the 2009-2010 freshman class, Rice's no-loan policy will be extended to students who qualify for need-based aid from families whose annual incomes are $80,000 or less - up from the current threshold of $60,000. The university will also lower the cap on loans in financial-aid packages for need-eligible incoming freshmen to $10,000 for their four undergraduate years - down from the limit of up to $14,500 for freshmen who entered in fall 2008.

Vanderbilt University (Nashville, TN)

Beginning in fall 2009, Vanderbilt will replace need-based loans with institutional grants and scholarships in financial aid packages for incoming and current undergraduate students. In addition, all seniors slated to graduate in May 2009 will have their need-based loans for the spring 2009 semester replaced with Vanderbilt grant/scholarship assistance.

Matching Public University Tuition/Matching State Scholarship Programs

Agnes Scott College (Atlanta/Decatur, GA)

Students who receive Georgia's state HOPE scholarship, and are accepted as a first-year student in fall 2009 at Agnes Scott, will receive an additional $15,300 annually from the college. In total, they are guaranteed $64,200 in total merit aid over four years.

California Lutheran University (Thousand Oaks, CA)

CLU is expanding its program that provides a private college education at a public university price to include transfer students in the 2009-10 year. Launched in 2008-09, the CLU Guarantee Scholarship allows incoming students who are also admitted to either University of California, Los Angeles, or University of California, Santa Barbara, to attend CLU for the cost of attending the public university.

Davis & Elkins College (Elkins, WV)

Davis & Elkins is launching a program in 2009-10 that allows students with a 2.5 GPA or higher, graduating from high schools in seven nearby counties, to attend the college at a tuition rate that equals in-state tuition and fees charged by West Virginia University. This represents a savings of $60,000 over four years.

St. Mary's University of Minnesota (Winona, MN)

Beginning in 2009-10, St. Mary's is expanding a program that guarantees that the total cost for qualified freshmen will be equal to or less than the cost to in-state students attending the University of Minnesota-Twin Cities (including tuition, room, meals and fees). When the program was introduced in 2007, the adjusted gross income (AGI) limit for qualifying families was $75,000. For freshmen enrolling in fall 2009, Saint Mary's will expand the program to include families with up to $100,000 AGI.

Texas Lutheran University (Seguin, TX)

Beginning is 2009-10, TLU guarantees that any student who has been accepted by the University of Texas at Austin or Texas A&M University in College Station, and to TLU, can attend TLU for the same price as those public flagship universities.

University of Evansville (Evansville, IN)

Starting in 2009-10, all incoming students who either have a permanent address in, or graduated from a high school in, Vanderburgh County, IN, (UE's home county) will receive a $18,000 award per year (up to four years) that will make tuition comparable to that of Indiana's major flagship public universities.

Four-Year Graduation/Job Guarantees

California Lutheran University (Thousand Oaks, CA)

Beginning in fall 2009, if undergraduate students declare their major early on, meet regularly with their advisors, make sufficient progress toward their degree each year, and fulfill other responsibilities, CLU promises them they will graduate in four years or the university will waive tuition and fees for the remaining classes. The 4 to Finish program is designed to help families save money, especially those affected by the current economic crisis.

Green Mountain College (Poultney, VT)

Green Mountain College guarantees incoming freshmen that they will graduate in four years, or the college will cover all tuition costs for any additional course work needed for graduation. Students who maintain 2.0 GPA, take a minimum 15-credit course load each semester, and meet regularly with their faculty adviser will not have to pay for tuition beyond their four years of study at the college.

Manchester College (North Manchester, IN)

Beginning in 2009-10, as part of its Triple Guarantee, Manchester will offer guaranteed graduation within four years for all full-time students, or pay no tuition for credits needed to graduate in five years; and a guaranteed job or enrollment in graduate school within six months of graduation, or return for a full year tuition-free. See also: Replacing Loans with Grants

Mercer University (Macon, GA)

Beginning with the freshman class of 2009, students who do their work, pass their classes, and follow the advice of faculty advisers will graduate within four years. Under the program, if a student does not graduate within this time frame, the cost of whatever additional courses are required to graduate will be absorbed by the university.

Accelerated Degree Programs

Chatham University (Pittsburgh, PA)

Beginning in fall 2009, Chatham launched a three-year bachelor of interior architecture program, which saves students a full year of tuition and prepares them for the job market in less time than their competition.

Hartwick College (Oneonta, NY)

Hartwick is launching a three-year bachelor's degree program in 2009-10. It is designed to cut more than $40,000 off the current cost of earning a Hartwick undergraduate degree, eliminating over $30,000 in tuition, and more than $9,000 in fees for room and board. This represents a savings to students and their families of approximately 25 percent.

Lipscomb University (Nashville, TN)

Beginning in 2009-10, Lipscomb adds the option of earning a bachelor's degree in three years. The three-year plan requires classes during two summers resulting in a $10,000 savings and the opportunity to enter the workforce or pursue a master's degree a year early.

Partnerships with Community Colleges

Dickinson College (Carlisle, PA)

Dickinson has launched a program that provides a merit scholarship worth between $10,000 and $15,000 for two years to honors students at four local community colleges who complete their associate degrees with a 3.25 grade point average. This is in addition to any need-based aid for which the students might be eligible. Students who express interest in Dickinson early in their community college career can receive advising and counseling from officials from both institutions. They will also be brought to Dickinson multiple times to meet professors and sit in on classes.

> Affordability Initiatives that Started in Academic Year 2008-09

• Eliminating Tuition
  
  

• Replacing Loans with Grants
  
  

• Eliminating Parental Contributions
  
  

• Reducing Tuition
  
  

• Freezing Tuition
  
  

• Matching Public University Tuition
  
  

• Offering Free or Discounted Housing
  
  

• Offering Four-Year Graduation Guarantees
  
  

• Providing 529 Savings Plan Discounts
  
  

• Two-Year Commuter Options
  

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Eliminating Tuition

Over the past decade, private institutions have made themselves more accessible and affordable to students of modest means through unprecedented investments in their institutional grant programs.  They have retooled institutional needs analysis formulas to reduce expected student and family contributions, lowered work expectations, and replaced loans with grants.

College of the Holy Cross (Worcester, MA)

Beginning in 2008-09, the college will offer free tuition to city residents whose families earn less than $50,000 a year.

Columbia University (New York, NY)

Beginning in 2008-09, all undergraduates from families with incomes as high as $60,000 a year will no longer have to pay for tuition, room and board, and other fees. (See also Replacing Loans with Grants)

Dartmouth College (Hanover, NH)

Beginning with the 2008-09 academic year, all students from families with incomes of $75,000 or less will receive free tuition. (See also Replacing Loans with Grants) 

Fairfield University (Fairfield, CT)

Beginning with the 2008-2009 academic year, Fairfield will provide full tuition scholarships to Bridgeport, CT, high school students whose annual family income is under $50,000 and whose financial assets are typical of families with this annual income level.  

Massachusetts Institute of Technology (Cambridge, MA)

Beginning in 2008-09 MIT will waive tuition and replace loans with grants to cover expenses outside tuition for all students whose families earn less than $75,000 a year.

Sacred Heart University (Fairfield, CT)

Starting in 2008-09, Sacred Heart will provide a full tuition scholarship to any incoming first-time undergraduate student who is a graduate of a Fairfield County, CT, high school, and whose family earns less than $50,000 a year. 

Soka University (Aliso Viejo, CA)

Beginning in 2008-09, all students admitted to the bachelor's in liberal arts program whose annual family income is $60,000 or less will receive free tuition.

Stanford University (Stanford, CA)

Beginning in 2008-09, all students with family incomes of less than $100,000 will no longer pay tuition. (See also Replacing Loans with Grants and Reducing Parental Contributions)

Freezing Tuition

One-time tuition freezes keep an institution’s list price at the previous year’s level. 

Four colleges have announced tuition freezes for 2008-09:

Capitol College (Laurel, MD)

Johnson C. Smith University (Charlotte, NC)

Mercy College (Toledo, OH)

Southern Virginia University (Buena Vista, VA)

 Juniata College (Huntingdon, PA)

Starting in 2008-09, Juniata guarantees that incoming students will graduate with a bachelor's degree in four years.

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Providing 529 Savings Plan Discounts

More than 270 private colleges and universities participate in the Independent 529 Plan, a tax-free college-savings program that lets families prepay tuition at a discount from current tuition prices. Colleges in the plan set their own discount rates, which mostly range from 0.5 percent to 2 percent.

Dickinson College (Carlisle, PA)

To encourage more families to save for college, effective July 1, 2008, Dickinson will increase its discount on the 529 savings plan to four percent. Assuming a 6-percent annual increase in tuition, parents must save $32,596 today to buy a year's worth of tuition in 2023 -- $90,830 -- under the previous discount rate With the four-percent discount, they will need to save only $20,545 instead.

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Two-Year Commuter Options

>>Continuing Affordability Initiatives that Started Prior to 2008-09

• Eliminating Tuition and Replacing Loans with Grants
  
  

• Tuition Reductions
  
  

• Tuition Freezes
  
  

• Tuition Guarantees
  
  

• Tuition Matches
  
  

• Free or Discounted Housing
  
  

• Eliminating Loan Interest
  
  

• Academic Partnerships with Community Colleges and High Schools
  
  

• Accelerated Degree Programs
  
  

• Four-Year Graduation Guarantees
  
  

• Job Guarantees
  
  

• 529 Savings Plan Discounts
  
  

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Eliminating Tuition and Replacing Loans with Grants

Over the past decade, private institutions have made themselves more accessible and affordable to students of modest means through unprecedented investments in their institutional grant programs.  They have retooled institutional needs analysis formulas to reduce expected student and family contributions, lowered work expectations, and replaced loans with grants. Several others, including "work colleges," have a long history of providing free tuition to all or most students.

Alice Lloyd College (Pippa Passes, KY)

Every full-time student is required to work as a part of his or her overall educational experience, helping to significantly defray the cost of attendance.  Alice Lloyd guarantees to pay the tuition for students residing in 108 central Appalachian counties in parts of five states. 

Baylor University (Waco, TX)

Baylor has increased grant aid and the percent of the need covered by institutional scholarships, and reduced student loan expectations.

Berea College (Berea, KY)

Every student admitted to Berea is awarded the equivalent of a four-year, full tuition scholarship, a policy implemented in 1892.  All students are required to work at least 10 hours a week in campus and service jobs.

College of the Ozarks (Point Lookout, MO)

No full time student at the college of the pays tuition.  Students work 15 hours a week during the regular school year, plus two 40-hour weeks during holiday periods, to help offset the cost of providing their education.

Cooper Union for the Advancement of Science and Art (New York, NY)

The college awards full scholarships to all enrolled students.

Cornell University (Ithaca, NY)

Cornell will eliminate need-based loans for all undergraduate students from families with income under $75,000, making it possible for new students to graduate debt-free. The initiative will be implemented over the two years. In the first year, 2008-09, the university will eliminate need-based loans going forward for undergraduate students from families with incomes under $60,000, and cap them annually at $3,000 for students from families with incomes between $60,000 and $120,000. The following year, 2009-10, the program will take full effect by eliminating need-based loans for students from families with incomes up to $75,000, and capping annual loans at $3,000 for students from families with income between $75,000 and $120,000.

Dartmouth College (Hanover, NH)

Beginning with the 2008-09 academic year, all students from families with incomes of $75,000 or less will receive free tuition.  Dartmouth also will eliminate loans for incoming scholarship recipients.  Over four years of enrollment, students will see loans that totaled as much as $17,500 replaced with scholarships.  Currently enrolled students will see their loan expectation cut by 50 percent for each of their remaining years at the college.  Dartmouth will extend its need-blind admissions policy to all international students, and provide an additional scholarship of $2,950 to allow financial aid recipients to take advantage of research or internship opportunities in their junior year 

Davidson College (Davidson, NC)

Beginning in 2007-08, Davidson will eliminate loans from financial aid packages. Students will have their demonstrated financial need funded entirely through grants and student employment, and graduate debt-free.  The policy applies to both incoming and upper class students.  In 2006-07, Davidson capped student loans at $3,000 per year, increasing grants by whatever amount it reduced loans.

Deep Springs College (Deep Springs, CA)

Each student attends for two years and receives a full scholarship valued at over $50,000 per year.  Students work at least 20 hours a week on the campus and accompanying ranch. 

Duke University (Durham, NC)

Beginning in 2008-09, Duke will eliminate parental contributions for families who make less than $60,000 a year, and make it possible for students from families with incomes below $40,000 to graduate debt-free.  To help relieve financial pressures on the middle class, Duke also will reduce loans for students from families with incomes up to $100,000 and will cap loans for eligible families with incomes above $100,000.

Emory University (Atlanta, GA)

Beginning in 2007-08, Emory will replace need-based loans with grants for students whose parents earn $50,000 or less.  Students whose families earn between $50,001 and $100,000 won’t have to take out more than $15,000 in loans over a four-year period.

George Washington University (Washington, DC)

Beginning in 2008-09, incoming freshmen with demonstrated financial need will have their average debt at graduation reduced by nearly 30 percent, from $29,000 to $20,000.  George Washington also will hold its 2008-09 tuition increase for incoming students to 3 percent—reflecting the Consumer Price Index.  Depending on housing selections, overall costs (tuition, fees, housing, and food) for incoming students will range from a decrease of 0.6 percent to an increase of 2.8 percent—the lowest increase in recent university history.  GW’s fixed tuition/ guaranteed financial aid program (students see no tuition increases over the four or five years they are enrolled) will continue.  Between 2008 and 2011, George Washington will quadruple fund raising for student aid from $10 million to $40 million annually. 

Harvard University (Cambridge, MA)

Beginning in 2008-09, families earning $120,000 to $180,000 a year will be required to pay, on average, no more than 10 percent of their income.  Harvard will also eliminate loans in financial aid packages, replace them with grants, and remove home equity in determining a family's assets. Since 2006-07, parents in families with incomes of less than $60,000 have not been expected to contribute to the cost of their children attending Harvard.

Haverford College (Haverford, PA)

Starting in 2008-09, Haverford will eliminate loans from financial aid packages for all incoming freshmen and reduce the loan burden for continuing students.  Up until now, the college included approximately $14,000 in loans as part of a student’s financial aid package.  For current students, the amount of loan relief will be determined by demonstrated need.  The new plan is part of a 25 percent increase in Haverford’s financial aid commitment.

John Carroll University (University Heights, OH)

John Carroll makes it possible for families making under $40,000 to enroll their incoming freshman tuition-free, effective for the 2007-08 academic year.  Once federal and state aid eligibility is determined, John Carroll scholarship and grant aid will be awarded to cover the remainder of the cost, up to full tuition and fees.

Lafayette College (Easton, PA)

Effective with the 2008-09 academic year, Lafayette is eliminating loans from need-based financial-aid packages awarded to students with family incomes less than $50,000 and whose financial assets are typical of families with this annual income level. Demonstrated need will be filled with aid packages that include grants and a modest work-study award. Beginning in 2009-10, Lafayette also will limit the loan portions of need-based financial-aid package awarded to students from families whose incomes are between $50,000 and $100,000 and whose financial assets are typical of famlies with this annual income level. Loans will be limted to $2,500 per year. 

Massachusetts Institute of Technology (Cambridge, MA)

Beginning in 2008-09 MIT will waive tuition and replace loans with grants to cover expenses outside tuition for students whose families earn less than $75,000 a year. For families earning less than $100,000, MIT will eliminate home equity in determining their need. Since 2006-07, MIT has matched students' Pell Grants, up to their maximum amount.  

Northwestern University (Evanston, IL)

Beginning in fall 2008, Northwestern will eliminate student loans and replace them with grants for new and returning undergraduate students with the greatest financial need. About 80 percent of the beneficiaries of the no-loan program will come from families making less than $55,000 annually. In addition, all undergraduate financial aid recipients who take out subsidized Stafford or Perkins loans will have those loans capped at no more than $20,000 over four years.

Oberlin College (Oberlin, OH)

Beginning in the 2008-09 school year, Oberlin College will eliminate loans for all students who are eligible for federally funded Pell Grants. 

Olin College of Engineering (Needham, MA)

All admitted students who enroll at Olin receive a scholarship covering tuition during the eight semesters of the baccalaureate program. This scholarship is currently valued at approximately $140,000.

Olivet College (Olivet, MI)

Starting in January 2008, Olivet will pick up nearly half the cost of the college's $19,234 annual tuition for incoming freshman, transfer or nontraditional commuter students who graduated from high school—or currently live—in  the neighboring towns of Bellevue, Charlotte, Marshall or Olivet. Each $9,290 grant is applied before any state or federal aid. Beginning in January 2009, Olivet will extend the program to 27 additional schools in the region.

Pomona College (Claremont, CA)

Beginning in 2008-09, Pomona College will eliminate loans in financial aid packages and replace those amounts with scholarships.  The change will apply to both current and future students.

Princeton University (Princeton, NJ)

Since 2001, Princeton has replaced loans with grants for all undergraduates receiving financial aid.  The move followed a decision made in 1998 to replace loans with grants for low-income students.  Princeton has also reduced the summer earnings expectation for financial-aid students and the amount that students are expected to contribute from their own savings.  The university lowered expected parental contributions by removing home equity from consideration (or giving an equivalent renter's allowance to those who don't own homes, but have other investments).  As a result of these improvements, the portion of tuition covered by the average grant for a freshman aid student rose from 65 percent in 1997, to 96 percent in 2008.

Rice University (Houston, TX)

Beginning with the 2008-09 freshmen class, Rice will double the income threshold for its no-loan policy to $60,000. Students with family incomes below $60,000 will not be required to take out loans to pay for college.  

Soka University (Aliso Viejo, CA)

Beginning in 2008-09, all students admitted to the bachelor's in liberal arts program whose annual family income is $60,000 or less will receive free tuition.

Stanford University (Stanford, CA)

Beginning in 2008-09, parents with incomes of less than $100,000 will no longer pay tuition.  Parents with incomes of less than $60,000 will not be expected to pay tuition or contribute to the costs of room, board, and other expenses.  Students will still be expected to contribute their earnings from work during the summer and academic year.  The program also eliminates the need for student loans.  Since 2006-07, families with annual incomes of less than $45,000 have not been expected to contribute to the cost of tuition at Stanford, while the requirements for families earning $45,000 to $65,000 were cut in half. 

Swarthmore College (Swarthmore, PA)

Effective for the 2008-09 school year, Swarthmore will replace all loans with scholarships in financial aid awards for both continuing and new students.  The college has offered loan-free financial aid to its lowest-income students since 2006-07.

Tufts University (Medford/Somerville, MA)

Starting with the class of 2011 (students who enrolled in fall 2007), Tufts is replacing loans with scholarships for all undergraduates whose annual family income is below $40,000.

University of Chicago (Chicago, IL)

The university provides full scholarships for students whose family incomes are less than $60,000. Students whose family incomes are less than $75,000 have had about half their loans replaced with grants.

University of Pennsylvania (Philadelphia, PA)

Effective fall 2008, new and current students with calculated family incomes under $100,000 will receive loan-free aid packages, while families above that level will receive a 10-percent reduction in need-based loans.  By fall 2009, all undergraduate students eligible for financial aid will receive loan-free aid packages, regardless of family income level.  In 2006-07, Penn started replacing loans with grants for students of families earning less than $50,000.  In 2005-06, the university reduced the summer savings requirement and increased allowances for incidental expenses for students from low-income backgrounds. 

University of Rochester (Rochester, NY)

Beginning in 2008-09, graduates of Rochester public high schools who enroll at the university stand to receive up to $100,000 over four years to cover tuition, under a new plan to expand higher education opportunities for talented students in the university’s home city.  The Rochester Promise initiative will offer a $25,000 tuition benefit annually to students who earned their high school diploma in the Rochester City School District.  The award is also available for college students who transfer to the university and meet the RCSD attendance requirement.

Vassar College (Poughkeepsie, NY)

Beginning in fall 2008, Vassar College will eliminate loans from the financial aid packages of students with calculated family incomes of up to $60,000. The college will replace those loans with additional Vassar scholarship grants. The policy will apply to students in all four classes, including current students.

Wake Forest University (Winston-Salem, NC)
Beginning in fall 2008, Wake Forest will reduce the size of loans its neediest students require by giving them more grant aid. The changes benefit freshmen with an annual family income of less than $40,000. Their loans will be capped at $4,000 per year during their college years.

Washington University in St. Louis (St. Louis, MO)

Beginning in 2008-09, WUSL will eliminate all loans for its students from families that make less than $60,000 annually. In the place of need-based loans, students will get grants.

Wellesley College (Wellesley, MA)

Beginning in 2008-09, Wellesley will replace loans with grants for students from families earning less than $60,000 a year.

Wesleyan University (Middletown, CT)

Beginning with the first-year class enrolling in 2008-09, students whose total family incomes are $40,000 per year or less will receive an aid package that substitutes grants for any loan obligation.  Beginning with the same class, all other students who receive aid will graduate with a four-year total loan indebtedness reduced by an average of 35 percent.  

Williams College (Williamstown, MA)

Beginning in 2008-09, Williams will eliminate loans from all financial aid packages and replace them with grants. 

Yale University (New Haven, CT)

Beginning in 2008-09, families with incomes of less than $60,000 will not be required to pay anything toward the cost of a student’s education.  Families with incomes of $60,000 to $120,000 will contribute from one to 10 percent of the student’s bill.  The policy will apply to all students returning to campus in the fall as well as entering freshmen.  Yale also announced that it will hold increases in 2008-2009 tuition and room and board charges to 2.2 percent.

Tuition Cuts

Tuition cuts have been a small but growing trend over the past decade.  In the five past years, more than a dozen have cut their list price.  For a list of tuition cuts at private colleges since 1996, go to www.naicu.edu/tuitioncuts.

The following colleges have announced tuition reductions for 2008-09:

Blackburn College (Carlinville, IL)

Cut tuition by 15 percent for 2008-09.

Capitol College (Laurel, MD)

Capitol College will cut the tuition for business majors starting in the 2008-09 school year by $10,000. Tuition will be frozen at last year's rate for all other students.  

Warner Pacific College (Portland, OR)

Cut tuition by 23 percent for 2008-09. 

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Tuition Freezes

One-time tuition freezes keep an institution’s list price at the previous year’s level. 

Four colleges have announced tuition freezes for 2008-09:

Capitol College (Laurel, MD)

Johnson C. Smith University (Charlotte, NC)

Mercy College (Toledo, OH)

Southern Virginia University (Buena Vista, VA)

Tuition Guarantees

A growing number of private institutions offer four- or five-year tuition guarantees to freshmen. Tuition will not increase for the years they are enrolled.  These programs give families peace of mind that their tuition won’t increase by unexpected amounts, and allow them to more easily budget.  These colleges and universities include, but aren’t limited to, the following.

Baylor University (Waco, TX)

Capitol College (Laurel, MD)

Concordia University (River Forest, IL)

George Washington University (Washington, DC)

Hardin-Simmons University (Abilene, TX)

Hiram College (Hiram, OH)

Hiwassee College (Madisonville, TN)

Northwestern College (Orange City, IA)

Ouachita Baptist University (Arkadelphia, AR)

University of Charleston (Charleston, WV)

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Tuition Matches

Tuition matches help enhance affordability and minimize the affect of sticker price on a student’s college choice.  As a result, more students have the opportunity to attend the institution that best serves their academic needs.

California Lutheran University (Thousand Oaks, CA)

Beginning in 2008-09, incoming freshmen who are admitted to Cal Lutheran and either the University of California, Los Angeles (UCLA) or University of California, Santa Barbara (UCSB) can attend CLU for the cost of attending the public university.  The savings on tuition, room and board likely will amount to more than $60,000 over four years.  The UC Guarantee Scholarship program has no income requirements, and out-of-state and international students are also eligible.  If students maintain a 3.0 grade point average and make satisfactory academic progress, they can renew the scholarship for all four years. 

Lyon College (Batesville, AR)

Students transferring to Lyon from two local community colleges, who come with the dean's recommendation and a 3.0 grade point average, will receive a scholarship that, combined with state and federal assistance, allow those living at home to complete their junior and senior years at a cost comparable to attending the two year institution.

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Student Aid Matches

Student aid matches help enhance affordability and minimize the affect of sticker price on a student’s college choice.  As a result, more students have the opportunity to attend the institution that best serves their academic needs.

Gannon University (Erie, PA)

Gannon matches the state grants of eligible students from New York and Ohio.

Massachusetts Institute of Technology (Cambridge, MA)

Since 2006-07, MIT has matched students' Pell Grants, up to their maximum amount. 

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Free or Discounted Housing 

Baker College of Flint (Flint, MI)

Beginning in fall 2008, Baker College of Flint will offer free housing to residence hall students who maintain a 3.5 grade point average or above, a 50 percent discount on housing for students maintaining a 3.0 to 3.49 GPA, and 25 percent discount on housing for students maintaining a 2.7 to 2.99 GPA. 

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Eliminating Loan Interest

Centenary College of Louisiana (Shreveport, LA)

Centenary offers the Centenary Affordability Program, which is open to all parents who qualify for a federal PLUS loan. For the four years their child is enrolled at Centenary, the college will pay the interest on annual loans of up to $15,000. A fixed rate payment option and four years of interest-free borrowing result in fast principal reduction.  

Schreiner University (Kerrville, TX)

Schreiner pays the interest on federal Plus loans taken out by parents.

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Academic Partnerships with Community Colleges and High Schools

Private institutions are giving community college and high school students opportunities to earn credits at reduced prices and to “test the waters” before enrolling.  Many institutions partner with local two-year colleges to offer joint degree programs that lower overall costs for students.

Benedictine University (Lisle, IL)

Students with an associate’s degree from a local community college are able to earn a bachelor’s degree from Benedictine through an on-site program at the two-year institution.  Tuition is half what the students would pay if they enrolled as adult nursing students at Benedictine.  The university is exploring similar partnerships with two other community colleges.

College of Notre Dame of Maryland (Baltimore, MD)

The College of Notre Dame of Maryland offers a 3.2 Guarantee Scholarship of at least $7,000 to community college graduates who enter with a 3.2 GPA.  It also has nine articulation agreements with Maryland community colleges, to make access to a four-year college seamless.

Gannon University (Erie, PA)

Gannon has dual enrollment programs with local and regional high schools where qualified high school students can take college courses and earn college credit while they are still in high school. 

Hiwassee College (Madisonville, TN)

Hiwassee, a two-year institution, provides dual enrollment courses for high school juniors and seniors in surrounding counties.  The program essentially provides collegiate course work for students with no out-of-pocket expense.

Lyon College (Batesville, AR)

Students at two nearby community colleges may take one course a semester at Lyon while paying their community college’s rate, allowing them to test the waters before transferring.  In addition, Lyon students may take a course each semester at these institutions, allowing Lyon to save the cost of creating courses that are already locally available and meet the college’s academic standard. 

Schreiner University (Kerrville, TX)

Schreiner provides at no cost to qualified area high school seniors access to one course to promote higher education as an option.  Students have an opportunity to explore the college classroom before committing to enroll, helping to ensure that their tuition dollars are well spent.

Walsh College (Troy, MI)

Walsh gives students the opportunity to complete three degrees—associate’s, bachelor’s, and MBA—within a total of five years.  The program offers a seamless transfer from a business degree at two local community colleges into the bachelor’s and then master’s business programs at Walsh.  This shortens total degree completion time by as much as one year, with 87 hours offered at community college rates. 

Accelerated Degree Programs

Private institutions nationwide offer accelerated degree programs.  These programs get students out into the workforce earning a salary earlier, and saving on their tuition, room, and board costs. 

Adelphi University (Garden City, NY)

Working in conjunction with three private and public colleges, Adelphi offers a five-year combined bachelor's and master's teachers program, as well as accelerated joint-degree programs combining undergraduate liberal arts with professional studies (dentistry, engineering, environmental studies, law, optometry, and physical therapy).

Albertus Magnus College (New Haven, CT)

Albertus Magnus offers both undergraduate and graduate accelerated programs.  Tuition for these programs is approximately half of tuition for traditional day programs. 

College of Notre Dame of Maryland (Baltimore, MD)

The College of Notre Dame of Maryland offers Accelerated College, with programs in business, nursing and elementary education, for working women and men. Once a student enters an Accelerated College cohort, tuition remains the same for that cohort until graduation.

Gannon University (Erie, PA)

Working in conjunction with three other institutions, Gannon offers accelerated joint-degree programs in law, pharmacy, osteopathic medicine, podiatry, physical therapy, and other fields.

Hiram College (Hiram, OH)

In 2006, Hiram added an accelerated biomedical humanities program, which prepares students to take the MCAT or GRE exams at the end of their second year, and to enter medical school or graduate school after three years.

Judson College (Marion, AL)

Judson allows students to graduate with a bachelor's degree in two years, ten months, saving time and money. 

Manchester College (North Manchester, IN)

The Fast Forward program gives students the opportunity to earn a bachelors degree in just three years. Students take the same number of courses as four-year students, but with a more aggressive fall and spring schedule, January session, two summer sessions, and online classes.  Fast Forward allows students to save as much as $25,000 in tuition, fees, and room and board.

Mount St. Mary's University (Emmitsburg, MD)

Mount St. Mary's offers accelerated undergraduate and graduate degree programs, including several for returning adult students.  Tuition for the undergraduate accelerated program is less than half that of the traditional program. 

Nichols College (Dudley, MA)

Nichols offers an accelerated joint bachelor’s and master’s of business administration program in on-site and online formats, both of which cost less than the traditional programs.

Peirce College (Philadelphia, PA)

Peirce allows adult learners to earn an associate degree in half the usual time.

Saint Joseph College (West Hartford, CT)

Saint Joseph offers seamless undergraduate/graduate degree programs that allow students to earn baccalaureate and master's degrees in five years in biology, chemistry, and psychology/counseling.  The college also offers an accelerated degree program in nursing.  

Seattle University (Seattle, WA)

Matteo Ricci College at Seattle University is the three-year university phase of a program that integrates high school and university level studies.  It allows students to complete their high school and university education in six or seven years, rather than the traditional eight. 

Waldorf College (Forest City, IA)

Waldorf offers all of its bachelor's degree programs in a three-year format.

Four-Year Graduation Guarantees

These guarantees ensure that students at private colleges and universities graduate in four years.  Students avoid an additional year of tuition payments and enter the workforce sooner than most of their peers at public universities.  Institutions that fail to deliver for students who follow university guidelines and stays on track, will provide the remaining classes at no cost.

Augsburg College (Minneapolis, MN)

Centre College (Danville, KY)

DePauw University (Greencastle, IN)

Doane College (Crete, NE)

Dominican University of California (San Rafael, CA)

Juniata College (Huntingdon, PA)

Milwaukee School of Engineering (Milwaukee, WI)

Muskingum College (New Concord, OH)

Pace University (New York, NY)

Regis University (Denver, CO)

University of the Pacific (Stockton, CA)

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Job Guarantees

Job guarantees for new graduates keep institutions accountable for the quality of education provided, and assure students that their financial investment is worthwhile.

Misericordia University (Dallas, PA)

College Misericordia offers a guaranteed placement program that ensures graduates of a paid internship in their fields if, six months after graduation, they do not have a job in their fields or have not been admitted to graduate school.

Manchester College (North Manchester, IN) 

Students who have not secured a job within six months of graduation may take additional undergraduate courses free of charge for one year to help prepare for employment. 

Milwaukee School of Engineering (Milwaukee, WI)

Undergraduate course may be repeated at no cost within three years of graduation if the graduate or his/her employer believes job performance will be enhanced. 

Newbury College (Brookline, MA)

Students who graduate with a bachelor's degree and at least a 3.0 grade point average, may take up to 10 courses at Newbury free of charge, if they are not employed after six months.

Robert Morris College (Chicago, IL)

The 180-Day Guarantee offers associate degree students additional free education if they are unemployed within 180 days of graduation.

529 Savings Plan Discounts

More than 270 private colleges and universities participate in the Independent 529 Plan, a tax-free college-savings program that lets families prepay tuition at a discount from current tuition prices. Colleges in the plan set their own discount rates, which mostly range from 0.5 percent to 2 percent.

Dickinson College (Carlisle, PA)

To encourage more families to save for college, effective July 1, 2008, Dickinson will increase its discount on the 529 savings plan to four percent. Assuming a 6-percent annual increase in tuition, parents must save $32,596 today to buy a year's worth of tuition in 2023 -- $90,830 -- under the previous discount rate With the four-percent discount, they will need to save only $20,545 instead.