Is College Tuition Prices Beginning to Drop?

According to the College Board, the average tuition of both public and private colleges is going down. Currently, the average yearly cost for in-state students attending public colleges is $8,240. Private colleges cost $28,500 yearly for in-state students. However, one private college in Charlotte, North Carolina is reducing its yearly tuition by 33%. Belmont Abbey College is reducing its cost from $27,500 to $18,500. William Thierfelder, the president of Belmont Abbey College, said "It seemed a little bit like madness, with costs going up each year, we were raising tuition each year, only to give it back on the financial aid side to help students be able to afford it." The hope is that potential students who only look at the price of colleges, which discourages them from applying, will consider attending the college.

http://schoolsofthought.blogs.cnn.com/2012/11/30/college-cuts-its-tuition-by-33/?hpt=hp_bn1