What do college degrees and airline tickets have in common? Their pricing structure. Rarely do students or passengers pay the same price as their classmates or fellow passengers. With merit aid and financial aid so prevalent in higher education, few students pay the full sticker price for their degree. Families have come to expect some sort of tuition discount.
To ease the sticker shock and attempt to make college more affordable, some small liberal arts schools have decided to either reduce tuition or lock-in the freshman tuition rate for the four years of college.
It will be interesting to see what other changes occur as a result of the high cost of higher education and the fact that it has gotten out of reach for the majority of the middle class.