Small but growing number of colleges offer fixed-rate tuition to help students plan expenses - InfoNews

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Small but growing number of colleges offer fixed-rate tuition to help students plan expenses

This photo taken Nov. 26, 2013 shows Jane Mahoney standing at a counter in the KU Bookstore on the University of Kansas campus in Lawrence, Kansas. About 320 colleges and universities offered tuition guarantees during the 2012-13 school year, according to an analysis of U.S. Department of Education data done by the National Association of Student Financial Aid Administrators. The schools represent about 6.7 percent of the nation’s nearly 4,800 institutions where students receive federal financial aid.Tuition rates for freshmen are guaranteed for four years at Kansas. (AP Photo/Orlin Wagner)
December 23, 2013 - 8:06 AM

MILWAUKEE - Freshmen at Wisconsin's Northland College will pay no more than $30,450 in tuition next year. They'll pay the same the following year. And the year after that.

The small liberal arts college known for its environmental focus is joining a growing number of schools promising fixed-rate tuition — a guarantee that students will pay a single rate for four or even five years.

The National Association of Student Financial Aid Administrators says about 320 colleges and universities offered guarantees during the 2012-13 school year.

The programs aren't discounts. Students sometimes pay more than standard tuition in their first two years to offset lower rates in the last two.

But students say the programs help control costs by allowing them to budget wisely and borrow less.

News from © The Associated Press, 2013
The Associated Press

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