You've probably heard a lot about the rising cost of tuition. Discounts at schools are, however, also on the ascent.
Private colleges are offering students larger grants relative to tuition prices than ever before,to a new analysis by the National Association of College and University Business Officers.
Grants and scholarships are often called "gift aid" because they are free money — financial aid that doesn't have to be repaid. Grants are often need-based, while scholarships are usually merit-based. The average school's discount rate for full-time freshmen students reached 50% in the 2017-2018 academic year, up from 39% in 2007-2008, NACUBO found. More from Personal Finance:
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