Last week’s announcement that Sweet Briar College would close in August came as a shock to many. Some alumnae have organized a fundraising campaign to keep Sweet Briar alive and others are wondering why a college with an $84 million endowment and 700 students had to close while it still had cash in the bank. The board cited an unsustainable enrollment decline as one of the reasons.
An article in Inside Higher Ed discusses the efforts by the Australian government to deregulate tuition and fees by 2016 and the potential consequences for students if that occurs. Naturally, the discussion leads to tuition discounting as it exists in the United States. The writer references a July 2014 survey by the National Association of College and University Business Officers (NACUBO) that finds that among 401 nonprofit colleges and universities, nearly 90 percent of the freshmen class were receiving grants equivalent to nearly a 50 percent discount on tuition.