No Financial Aid, No Problem. For-Profit University Sets $199-a-Month Tuition for Online Courses

For years, some analysts have argued that ready access to Pell Grants and federal loans actually props up colleges prices. That’s because institutions have little incentive to charge anything beneath the floor set by available financial aid. A recently launched for-profit institution, New Charter University, is trying to change that equation, by offering online courses so cheap that students shouldn’t need to borrow. Read my story about the school here.