It’s no secret that the cost of a college education is a steep investment for families.
According to College Board, the average price of tuition and fees for the 2014-2015 school year at a private institution was $31,231. Meanwhile, the average cost at a public institution for in-state residents was $9,139 and for out-of-state residents $22,958. With additional cost being added for housing, meals, books and supplies, families can easily pay anywhere between $20,089 and $43,663 or more annually to send their child to college.
[Related: Stanford University Offers Free Tuition to Families Earning Less than $125,000]
To help offset rising tuition fees and expand the idea of college to students from all economic backgrounds, take a look at a few institutions across the nation that are working to make their attendance cost more affordable.
Howard University:
For the 2015-2016 academic school year, Howard University is putting into place an innovative plan that will freeze tuition for all undergraduate and select graduate degree programs, as well as offer tuition rebates to students who earn their degree early or on time.
Paul Quinn College:
Beginning this fall, this private HBCU in Dallas will allow students to pay $2,300 annually if they are willing to work for it. Under their new policy, students who work 10-20 hours a week on campus or with local companies will be eligible to receive reduced tuition for the year.
Stanford University:
In an effort to make their school more affordable to a wider range of students, Stanford has announced a new plan that will offer free tuition to students whose families earn $125,000 or less. For students who come from families earning an annual income of $65,000 or less they will be eligible for not only free tuition, but also free room and board.
Savannah State University:
Beginning this fall, Savannah State will offer in-state tuition to not only their Georgia students, but also students from the border states of Florida, Alabama and South Carolina.
Stillman College:
Stillman College in Tuscaloosa, Alabama has announced that effective this fall they will reduce their college tuition by $5,000 in hopes of attracting more students in the new school year. The current average cost for tuition, room and board at the school is roughly $22,500 and under their new plan the cost will be lowered to roughly $17,500.