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Birmingham-Southern College will cut tuition by half in the fall of 2018

Birmingham-Southern College released it will cut tuition by half in the fall of 2018.

In list after list Birmingham-Southern College comes out as one of the best bang-for-the-buck institutions of higher learning.

BSC tells ABC 33/40 that tuition will soon be cut in half! How can they do it? The quick answer is because lower tuition will reduce the amount of financial aid the school gives out.

In contrast to past publicized financial troubles, BSC President Linda Flaherty-Goldsmith says if the school makes headlines again for its finances, it'll be for the right reason: the school's reduced tuition.

Pres. Flaherty-Goldsmith told ABC 33/40 on Tuesday afternoon, "It's going to create more opportunities for more students to look at us seriously and say, 'I want to go to BSC', and realize that these doors are not closed to them."

Right now, tuition at BSC is more than $35,000 annually. This new plan lowers it to $17, 650 for the 2018-19 academic year. That's news two juniors, Natalie Dunlay and Rachel Woods, love to hear.

Dunlay said when she heard about it, "I was pretty stoked."

Woods had a similar response. She exclaimed, "Yea I was pretty excited too!"

Pres. Flaherty-Goldsmith said BSC is setting a precedent for the Southeast. "This is something that has been done very rarely in higher ed. and not at all in this region," said Pres. Flaherty-Goldsmith.

Not long ago, BSC faced financial ruin. A 2010 audit revealed massive over-awarding of student Pell Grants that resulted in millions of dollars in unaccounted debt.

"(We) learned from our mistakes and we corrected our errors," said the President.

This time, the President said the college's finance team is more closely watching how money is spent. She explained the college can make lower "sticker prices" work because with the lower tuition BSC will be able to reduce financial aid by 30-35%.

The BSC President called it a better published price with a much greater value. Pres. Flaherty-Goldsmith emphasized the college will offer more majors and leave students with less financial debt upon graduation.

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