Private colleges cutting tuition costs

A growing number of private colleges and universities are cutting tuition costs to boost enrollment. At some universities the cuts are as much as 15 percent.

That's good news for many middle class students who had been forced to pay the higher tuition, while not qualifying for financial aid.

The schools cutting tuition are often also cutting back on the number of scholarships offered making it tougher on students from low income families.

A recent federal study found outstanding student loan debt now tops $1 trillion nationwide.

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