I know, you probably thought that headline was a mistake but I'm here to tell you it is not. Central College in Pella, Iowa has announced a massive reduction in their annual tuition. Beginning in the Fall of 2020, Central's tuition will be $18,600. That's more than 50 percent, and $20,000 lower than this Fall's rate of $38,600. The new tuition should bring the cost of going to Central College, a private institution founded in 1853, to the levels of public universities in Iowa.

What does the change mean for financial aid and scholarships to the school? According to WHO, the school will still offer both.

Mark Putnam, Central College President, said in a statement:

Central views it as our responsibility to help bring rationality to the price of a high-quality college education. Central’s new tuition and financial aid pricing is clearer and easier to understand. It’s an important commitment to our students, families, alumni and donors.