Colleges Cutting Costs
America Should Pay Attention
By Glenn Mollette
Lincoln College in central Illinois cut tuition costs by 24% two years ago. The tuition dropped from $23,000 to $17,500. This year Concordia in St. Paul, Minnesota cut their tuition $10,000. Converse College in South Carolina has announced they will cut their tuition by 43%. Newburgh Theological Seminary College of Indiana announced October 1 a freeze on tuition costs and a $500 reduction.
Lincoln College was experiencing a declining enrollment and trying to survive a sluggish economy. The decision was to make some adjustments in order to become more competitive with colleges across the nation.
Across the country higher education has become a buyers market. Colleges costing $20,000 to $40,000 a year have become out of reach for the average American. Prospective students have become reluctant to embrace a lifetime of debt when affordable education is out there with a little searching.
Neighboring colleges will be forced to pay attention. More Americans will have options. Education at a more affordable price could become a reality.
I hope the government will not notice this recent college cost cutting trend. They will figure out a way to mess it up. Currently there are multitudes of higher education options in America. Universities abound throughout our country. Many have maxed out their financial obligations. Competition will eventually make many of the schools cut some of their costs and offer better tuition rates.
Could our government learn something from this trend? What if we had 200 major medical insurance companies competing state to state? One big insurance company under the thumb of the government is a losing scenario for Americans. What if we only had one automaker? What if we had only one appliance maker? What if we had only one cable news network? What if we could only buy oil from Saudi Arabia? What if we only had coal and no natural gas? Or, what if we only had natural gas and no coal?
Whenever we are limited to one utility company, one gas station, one grocery store, one medical provider, one source of energy or just one of anything we are up the creek without a paddle.
Regardless, if it's college tuition or anything else, options and competition are good for America.
He is the author of American Issues and numerous other books.