Ashland University in Ashland, Ohio, has announced that it is cutting tuition costs for undergraduate students by more than $10,000.
The private university says tuition for full-time undergrads in 2014-15 will be $18,908, a 37 percent decrease from the projected tuition of $30,064.
“Over the past decade everyone in higher education has danced around the subject of the rising cost of college,” says university president Fred Finks. “Yet few have been willing to tackle the issue and the complications involved. Ashland University knows the importance of positioning ourselves to meet the rising demand for quality education at an affordable price.”
Finks says Ashland has found that many prospective students and their families are deterred by the perceived high cost of attending the university and don’t factor how financial aid can reduce costs. Administrators believe that the tuition drop and financial aid changes will help recruit more full-time undergraduates to the Ashland campus.
“This is really about becoming more transparent on our pricing structure,” Finks says. “We believe this is the best way for us to help both the ‘high-need’ and the ‘low-need’ students.”
Because of the lower tuition, Ashland will reduce the amount available for grants and scholarships.
“We are seeking to move from a high-tuition/high-discount model to a lower-tuition/lower-discount model,” says Finks.
Ashland’s room and board costs will remain at $9,502 The University’s total charges for tuition, fees, room and board for 2014-15 will be $29,354.
