Listen Now: USC’s Free Tuition: Who Qualifies?
One of the top schools in the country is dropping its price of admission.
The University of Southern California says students from families with an annual income of eighty thousand dollars or less will not have to pay tuition. In addition, the university says it will no longer factor in home ownership when calculating financial aid.
The school’s president says the new policy is to bring in students who otherwise could not afford to attend. She says there are many students with plenty to offer who are restricted by finances. The plan will be phased in with students from the Fall 2020 and Spring 2021 classes.
And with many California families living with an average income of seventy-one thousand dollars it opens a lot of doors. The Wall Street Journal reports that over the past decade the cost of tuition has soared. It costs more than two and a half times what it did in 1971.
USC says about one third of the students the first year will benefit from this. And their families will save almost sixty thousand dollars a year.
CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.
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