A small kernel of reassuring news has emerged alongside the announcement that America's average student loan debt now exceeds $25,000.
The University of Charleston in West Virginia announced this week that they will reduce tuition by 22% for all students starting there in the fall of next year.
"Thanks to a decade of success, we are in a strong financial position that enables us to make this bold move to reduce tuition," said University President Edwin Welch in a press release. "This change will make a UC education more accessible to more students. We strive to be the best value private institution in the region."
The cut brings the school's tuition to $19,500 for new students. Currently enrolled students will receive aid from the school to ensure that their tuition matches the promised figure.
The university is not the first to scale back its tuition this year. In February, the University of the South slashed its tuition by 10 percent.
On the other side of the spectrum, famously free school Cooper Union announced Tuesday that it might have to begin charging tuition to make up its million-dollar budget deficit. (See a list of free colleges here.)
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