The University of Tulsa is slashing tuition for undergraduates next year by more than 50%.
The drastic cut aims to attract new students to the private research university, and is meant to reflect what many are currently paying after financial aid.
The new rate isn't expected to take effect until fall of 2027. At the official announcement on campus, TU president Stacy Leeds says the school is not leaving out new students attending classes this fall.
"If there are students on our campus that are paying out of pocket more than $25,000 in tuition and fees, we're going to hold them harmless with additional scholarships," said Leeds.
The cut from $54,000 to $25,000 is for first-time, full-time students and will be locked in for four years.
Leeds said the reduced tuition will be funded entirely by private gifts by, so far, unnamed donors.
Tulsa Public Schools Superintendent Dr. Ebony Johnson was present for the announcement.
She says about 85% of the over 33,000 students she serves are considered socio-economically disadvantaged.
"And I'm appreciative, as the superintendent, that we are opening up doors for our students to not have what would have been a dream deferred, but in actuality, a dream that's defined for them to have a destiny," said Johnson.
Tulsa Public schools is the largest school district in Oklahoma. Johnson said the cost of tuition is a difficult but deciding factor for many when choosing their future after high school.
