Dive Brief:

• Ohio Northern University plans to cut tuition for new students at least 20% and offer a four-year graduation guarantee.
• Tuition for current undergraduates will be frozen next year at present rates. 
• The graduation guarantee will award a free additional semester if qualifying students are unable to graduate in four years.

Dive Insight:

The trend to dramatically lower tuition is sometimes called a "tuition reset." Some small private colleges are making the big  price cuts to attract attention and avoid scaring away cost-conscious students. By the standards of a tuition reset, this cut is actually modest. Converse College in South Carolina and Ashland University in Ohio dropped tuition by around 40%.