University of Charleston: How we cut back tuition by 22%.
The University of Charleston in West Virginia is cutting back the tuition by 22% and is hoping for more students to register at their university the next year.
Due to the economy of the United States, well not only the United States since all the world is having a harsh time with the economy, but the University of Charleston is cutting back 22% of their tuition so they can have more students register next year, which it will bring them more profit in the future years. For example in the Rio Grande Valley area we have South Texas College and University of Texas Pan American, they both great schools but South Texas College is taking an advantage since it has lower tuition. With the tuition being low more students join South Texas College than Texas Pan American, and STC has been growing rapidly in the past 10 years and is looking for another challenge. Charleston University has about 1000 students, of which tuition was $25,000 dollars, with the tuition dropping 22% it has come down to $19,000. By dropping tuition they are not making the profit of $6,000 per student a year; which means they are losing money but the President of the University Dr. Edwin Welch explains that they are having a faculty-sharing program, where they are sharing professors with another five schools to teach certain subjects. They also have a fast-track program where students can earn a degree in three years instead of four like in almost every school. Dr. Welch says “That means students can replace a year of tuition with a year of income.”
The school lost about 30 students last year that were enrolled to begin their school year and in August when the year start they just simply changed their minds and went to different places. They believe is because the parents are now considering the overall price, and are sending them to different school with lower tuition.
Is fascinating how they have a degree plan where students can earn...