To make this a reality, the school's Board of Trustees announced this month that it will slash tuition by 12.5% for the 2012-2013 school year and cap the new price tag of $29,000 through 2015.
"Cabrini College is financially strong and students will continue to experience the same extraordinary programs and faculty," Cabrini President Marie Angelella George said in a statement.
The school said that while other colleges have only been able to cut tuition because they have simultaneously slashed scholarships for returning students, Cabrini will keep merit scholarship funding at current levels.
Cabrini is a Catholic-affiliated college but is open to all religions. Only a half-hour drive from Philadelphia, Cabrini offers 30 majors in liberal arts, sciences and professional studies. More than 98% of students receive need-based financial aid or merit scholarships.
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.
|GM raising Corvette prices|
|Albertsons to merge with Safeway|
|Boeing reports wing cracks on Dreamliners|
|Bitcoin matters. Ignore the media circus.|
|Everything must go: There's a flood of store closings|