Canisius College changes opaque pricing policy, slashes tuition to $27,000 | The Buffalo News

Canisius joins more than 30 private colleges and universities across the country that have rolled back tuition rates over the past 20 years, and eight other colleges that last month announced they will do tuition resets next year, said Lucie Lapovsky, an economist who studies higher education finance.

Canisius closely studied a tuition reset by LaSalle University in Philadelphia announced in 2016 and put in place for this fall. LaSalle reduced its sticker price from $40,400 to $28,800 in an effort to reposition itself in a highly competitive higher education market. LaSalle had an enrollment bump of 20 percent this fall, Hurley said.

Although the sticker price at Canisius will be reduced by nearly $8,000, few, if any, current students will see that type of savings in their tuition bill next year, because nearly all Canisius students receive some sort of institutional discount. Those discounts will be adjusted to reflect the new tuition rate. But Hurley said that all current Canisius students will pay less than they would have paid if the college did not reset tuition.

The savings will vary by student, based on individual financial circumstances. The college will send letters to students and parents illustrating the effects of the price reset on their financial aid packages, he said. Current students also will benefit because any future price increases will be built on a lower base.

Lexi Maida, a freshman from Lancaster, wondered if the reduced tuition next year will allow her to take fewer student loans.

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Canisius College changes opaque pricing policy, slashes tuition to $27,000 – The Buffalo News.