ADA, Ohio– Here’s something you don’t hear every day: The cost of something going down.
A university in northwest Ohio will lower tuition for the next academic year to what students paid prior to the recession.
Ohio Northern University on Thursday announced it will cut the sticker price to college for new students by 20 to 25 percent. Tuition for existing students will be frozen for next year at 2013-2014 rates.
The conventional high-tuition, high-financial aid model is not sustainable, said university president Daniel DiBiasio.
The school also kicked off a four-year graduation guarantee in most undergraduate programs. Students who meet certain expectations, but aren’t able to graduate in four years will receive a semester for free.
Ashland University in northeast Ohio announced a similar initiative in August.
The announcements come after a summer pitch by President Barack Obama to overhaul federal student aid.