Many leading US colleges and universities face a shortfall in enrolment for fall classes and will offer price discounts as they compete for students in an ever expanding higher education market, according to Forbes.
The magazine highlighted 50 public and private US colleges listed in the Princeton Review’s “Best Colleges” list that are still accepting students in their 2013 freshman classes.
In their scramble to fill empty seats, colleges are likely to offer significant tuition discounts in the form of grants in a type of free market pricing that goes on behind the scenes, Forbes said.
“There are many more colleges in the United States than is economically viable,” wrote Matt Schifrin, managing editor of investing content at Forbes Media. “Many colleges make deals with families, offering significant rebates to their advertised prices.”
Among colleges still seeking students for fall classes are Lewis & Clark College in Portland, Oregon, the University of Maryland, College Park, the New School in New York City, Arizona State University in Tempe, Arizona, and Illinois Institute of Technology in Chicago, according to Forbes.com.
Its list includes more selective schools but the National Association of College Admissions Counsellors counts 288 colleges nationwide that have reported having space for incoming freshmen this fall.
The rising price of college tuition scares families and parents, but they can get discounts if they look, Mr Schifrin said. Average tuition and fees alone at private non-profit four-year institutions rose $1,173 or 4.2 per cent to $29,056 in 2012-13, according to the College Board. — Reuters