University Of Tulsa Just Cut Its Tuition In Half

When it comes to higher education, not all colleges and universities are equal.

That's true in terms of the quality of education and the value of a degree, but the costs are what stand out the most.

On the topic of tuition, it has gone wild over the last fifty years.

Example: When Kelso Sr went to SWOSU in Weatherford in 1972, each credit hour of college cost him about $11, or $330 per year. That's not books, rent, food, etc... just the basis of what classes cost back then. He loves to tell this story too, how he worked his way through college, working at the local gas station making $1/hour.

How Much Has College Tuition Increased In Oklahoma?

The times were very different when it was time for me to go to college. In the early 2000s, that same tuition had grown to about $52 per credit hour, or $1572 per year for just classes.

While that's a 5x jump over 30 years between my father and me, it climbed faster in the 20 years between me and my nephew. A Class of 2024 graduate, his cost of tuition at the same college is roughly $252 per credit hour, or $7560 per year for his classes... Not including books, rent, or living.

That's still a crazy jump in cost, but still among the more affordable degrees, and arguably the best academic credentials in Oklahoma.

Why Is College So Expensive Now?

It's no wonder why higher education is having a crisis these days.

It's not that Americans want to stop learning, but they're more aware of and less likely to take on the massive amounts of predatory student loans in order to complete a degree.

That doesn't mean they're bootstrapping their way through school, but taking more care in the student resources they apply for. And if the University of Tulsa's huge announcement is any indication, maybe higher education is starting to hit a tipping point.

University Of Tulsa Cuts Tuition By More Than Half

TU just announced it's cutting tuition and required fees by more than half, from around $54,000 per year to just $25,000.

An important side note, this new price doesn't start until fall 2027, but that price will be locked in for the full four years of a bachelor's degree.

What about students already attending TU?

Well, they're paying the full price at the moment, but when the drop rate rolls around next year, they'll also get additional financial aid to bring them down to that half-price cap.

But here's where it gets interesting.

If you've ever looked at what some Oklahoma colleges cost, you already know where I'm going with this.

How Much Does College Cost In Oklahoma?

Seeing the sticker shock at Oklahoma's most expensive colleges, OU and OSU suddenly start looking like supreme bargains.

Oklahoma residents can attend our two big public universities for a fraction of what the old University of Tulsa sticker price was.

Even after TU's enormous price cut, $25,000 a year is still a whole lot more than the roughly $10,000-ish in annual tuition and mandatory fees an Oklahoma resident can expect at a public university like OSU.

And that's before we even start talking about scholarships, financial aid, room and board, books, meals, parking, and all the other little expenses that have a funny way of becoming big expenses once you're actually on campus.

Which brings us back to something I wrote about this a couple of years ago.

College pricing is weird.

We have gotten used to seeing enormous tuition numbers, only to find out that very few people actually pay the number printed on the brochure.

TU is basically acknowledging that problem.

The university says the $54,000 sticker price can cause people to tune out before they ever find out what they might actually pay after scholarships, grants, and financial aid... So they're changing the sticker, and that's probably a smart move.

You know how it goes... When you see something you like or want, you'll look up the price. You're either good with it, or you instantly think "I can't afford that."

Today's youth looks at college the same way I look at vintage Hummer H1 Alphas.

But you do have to give TU credit for this, even if they'll remain the highest-priced college in Oklahoma for at least one more year.