Seeking answer to cost issues, Canisius College cuts tuition by 23 percent
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More than ever before, the cost of a private education appears unaffordable. The process has become a maze of high tuition prices, high discounts and lack of transparency that turns away too many qualified students. Canisius believes the time has come to reverse this trend. Excellence Within Reach, our tuition reduction initiative, is a forward step designed to increase access and bring the transformative experience of a Catholic, Jesuit education within closer reach for all.
Excellence Within Reachlowers our undergraduate tuition by 23% -- resetting it to 2008 levels. It’s a move designed to narrow the gap between our published price and what students actually pay after their financial aid is applied, making Canisius a more realistic possibility from the start. It also reduces housing costs by $2,000, making it more affordable to live on campus. And it maintains our commitment to scholarships and financial aid, further reducing a student’s cost of attendance. When you add it all up, Excellence Within Reach makes Canisius more accessible and affordable for students and families who previously thought a premiere, private education was beyond their reach.
Affordability and accessibility have been part of the Canisius mission for nearly 150 years. Through Excellence Within Reach we’re simply making an education already recognized as an exceptional value – an even better one.
Seeking answer to cost issues, Canisius College cuts tuition by 23 percent
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Canisius College leaders believe that families who are interested in their institution are scared off by its published $34,966 price tag.So the college is reducing its annual sticker price to $27,000, a 23 percent decrease, and also lowering on-campus residence hall rates by $2,000 a year.
Canisius is calling the initiative "Excellence Within Reach."
$35k down to $27k along with on-campus residence hall rate by $2k.
(35k - 27k) = 8,000 + $2000 = $10k a year. That is a savings of 40k over 4 years
That $40k could be use for a down payment on a house or a start of an IRA.
Quote:
"The cost of college has continued to increase over the last ten years, creating real anxiety for students and families," college president John Hurley said. "Canisius College wants to be a leader in removing this roadblock for the many families who assume that a private education is out of reach based solely on its sticker price."
So why did the cost of college increase as it did? Salaries? Cost of benefits? Over building to complete with other educational businesses?
October 3rd, 2017, 04:33 PM
WNYresident
Canisius College to reduce tuition for 2018-19
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BUFFALO, NY-- Canisius College announced for the 2018-19 school year, it's lowering the cost of undergraduate tuition to 2008 levels.
That means it will go from almost $35,000 this year to $27,000 that's almost a 23% drop.
The school says it wants to narrow the gap between the published price, and what most students actually pay -- once financial aid is factored in.
It's unclear how financial aid packages will change, although the school says it's still committed to scholarships. The school also announced housing costs will also be reduced.
So is the tuition physically lowered or are they just subsidizing 23% of the amount seeing the article states "once financial aid is factored in..."
If a person goes to the college check book in hand are they cutting a check for $27k or 35k if no financial aid is used?
October 4th, 2017, 05:11 PM
grump
WNY, the college tuition game has always been a shell game and it’s gotten worse over the years.
October 4th, 2017, 05:35 PM
WNYresident
My question is.. were they just over charging because they knew students could get loans? No worry on the college's side if the student can not pay them back. They got their money up front. Right?
What gave the college the ability to literally cut the tuition by 23%?
Did the teachers take massive salary cuts? Did a loan get paid off so less revenue is required to operate the college?
If they can cut the tuition by 23% why can't they cut it 30% or how about 50%?
To over charge someone for a service just because you can as a non-profit doesn't see proper.
