Making the right cuts in higher education

Tim Goral's picture

CBS News reported this week that a number of colleges and universities had or planned to cut their sticker prices significantly. CBS noted that the reported tuition price for independent colleges and universities was slightly over $30,000 per year -- or up about $1,100 since last year.

These numbers translated into a 2.9 percent increase or the lowest collective tuition increase in 40 years.

Consumers need to think through a number of points before applauding this decision as a panacea to address high sticker prices.

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