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The high fixed costs and low variable costs do indeed by Raoul

mean pricing will continue to come under pressure for all but the strongest. For most privates and most students headline tuition is meaningless. Like airlines advertising the most expensive seat on the plane for any given trip.

The whole thing is a horrible conundrum and leaders who try to be proactive get incredible pushback - at least right now.

The whole education system would be better off with 500-1,000 fewer universities and for state schools to do a better job of dividing up their areas of programmatic focus and if possible consolidating administrative oversight. Not sure it can be done fast enough hence we face a Chinese water torture future among those with traditional models. But that is what is needed. But schools die very slowly and rarely with proactive leadership as with Cabrini. I salute them for doing it right, as painful as it is.