While tuition for returning students will technically remain at the former rate of $25,500, the college said it will dole out at least $6,000 in aid to each student so that they too won't pay more than $19,500 in tuition.
University president Edwin Welch said in a statement that too many families scrap the idea of applying to the university because of its price tag (although he stressed that few students pay the full tuition thanks to financial aid).
"This change will make a UC education more accessible to more students. We strive to be the best value private institution in the region," University President Edwin Welch said in a statement.
To make room for all the extra students it hopes to attract with the tuition cut, the college plans to expand its fast-track program for students who want to graduate early.
The University of Charleston, located in the capital of West Virginia and not far from the Appalachian Mountains, offers a liberal arts education with 23 majors.
Facing strained budgets, state colleges and universities have been hiking tuition at alarming rates. Here are five states where a public education costs a whole lot more than it did last year.
|Stocks finish higher for fourth straight week|
|Oil-price manipulation: the next Libor?|
|Prison exclusive: Bernie Madoff can't sleep|
|Google says you'll know when Glass is sketchy|