In spite of budget deficits looming over a majority of U.S. colleges and universities, Cedarville University has taken a bold step to lessen the financial burden on both parents and students' shoulders.
The university will hold back its tuition increase to 2.8 percent next year and will increase its financial aid more than 12 percent to $23.4 million. As a result, the tuition will be $26,220 next year.
"We realize higher education is expensive," spokesman Mark Weinstein, told Dayton Daily News. "We feel this puts Cedarville in a competitive position."
In addition, the university has also made qualifying for academic scholarships a lot easier.
Cedarville's new academic scholarship will award $4,000 to students who have scored a minimum of 22 on the ACT or 1020 SAT score and a 3.0 grade point average in high school.
Students who have obtained maximum score in these categories will qualify for $12,000 academic scholarships. The scorecard should feature a minimum of 31 ACT or 1360 SAT score and 3.75 GPA or one should be a national merit finalist or semifinalist.
This scholarship, named as the President's Scholar Award, will be given to more than 200 students. It replaces Cedarville's former highly competitive scholarship program, which was given to approximately nine students last year.
Alongside, the university continues to provide need-based financial grants worth $4,000 to students.
Apart from Cedarville, the University of Dayton is offering extra scholarships that match tuition increases for freshman next year and Wright State University will provide more than $3 million in financial aid to students who qualify their scholarship programs.