Private Colleges Slash Costs to Compete

With parents strapped for cash, private institutions have begun matching local public-university tuition to attract top students

When Carlos Cortez of Austwell, Tex., sat down with his parents to discuss his options for college this fall, he quickly realized his options were limited. Even though Cortez was the No. 1 student in his class and a star basketball player at Austwell Tivoli High School, his parents told him could afford to send him only to one of the large public universities in Texas. It was a blow for Cortez, 18, who had his sights set on Texas Lutheran University in Seguin, Tex., a tight-knit private university with 1,360 students and a hefty price tag of nearly $33,000 in tuition and fees

To continue reading this article you must be a Bloomberg Professional Service Subscriber.