09/17/2010 07:39 am ET | Updated May 25, 2011

How Going To College Is Like Buying A Car

A growing number of private colleges are adopting the old car salesmen's trick of setting high sticker prices then clinching sales by offering nearly everyone who walks in the door a special discount--or, in college terms, a scholarship.

A new College Board report on colleges' tuition price-setting strategies reports that in the 2008-2009 academic year, the last year for which data is available, private colleges only collected about 67 percent of the tuition they would have received if they charged everybody their advertised prices.

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