Tuition Reset
Since 2016, more than ninety institutions have cut published tuition outright. We built the first complete census of those resets and evaluated what followed.
Does cutting sticker price change who applies, who enrols, and what the institution actually earns?
Tuition resets are among the most visible and least evaluated decisions a board can make. Most institutions considering one are working from anecdote.
Key findings
tuition resets identified between 2016 and 2025
median rise in applications in the first year after a reset
median change in net tuition revenue three years out
About the project
We identified 93 resets between 2016 and 2025 and constructed synthetic controls from institutions matched on selectivity, discount rate, and regional demographics.
Application volume rises reliably. Net tuition revenue does not: in the median case it is flat three years out, with substantial variance driven by whether the institution simultaneously restructured its aid.
The paper's central contribution is separating the price signal from the aid restructuring that usually accompanies it.