Colleges are beginning to feel the effects of their far-left bias.
According to a new study the average institutional tuition discount rate of private, nonprofit colleges and universities hit 53.9%.
That is a record high.
These private, nonprofit colleges and universities are losing around half of their revenue in an effort to entice students to come.
Private colleges and universities significantly discounted listed tuition and fee prices for most students in 2020-21—continuing a long upward march in discount rates that only accelerated during the COVID-19 pandemic.
In the 2020 NACUBO Tuition Discounting Study, 361 private, nonprofit colleges and universities reported an estimated 53.9 percent average institutional tuition discount rate for first-time, full-time, first-year students in 2020-21 and 48.1 percent for all undergraduates—both record highs. By providing grants, fellowships, and scholarships, these institutions forgo about half the revenue they otherwise would collect if they charged all students the tuition and fee sticker price.
The study also found that most students not only received grant aid in 2020-21 but were getting larger grants as well.
These grants covered around 60.3% of listed tuition and fees for first-time undergraduates.
The grants covered 54.3% of all undergraduates.
Almost 90% of first-year students received some kind of institutional grant aid.
Go woke, go broke.