Tuition Discount Rates Hit New High

The average tuition discount at private nonprofit colleges once again hit a record high, according to a new National Association of College and University Business Officers study released this week. A NACUBO press release noted that “the awards were, on average, the largest yet.” The average institutional tuition discount rate was 56.2 percent for first-time, full-time freshmen for the 2022–23 academic year, and 50.9 percent for all undergraduates, according to early projections from NACUBO’s annual survey, which included 341 private, nonprofit institutions.