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The new reporting standard requires schools with the highest costs or largest increases to justify the reasons behind the rising costs, and offer plans to address the increases. The specific reporting requirements are still being developed. Some schools anticipated the data's release and offered their own explanations. At Sewanee: The University of the South, a small private school in Sewanee, Tenn., the 2010-11 tuition costs of just below $36,000 kept the school out of the list of the top 5 percent most expensive. But Sewanee used Thursday's announcement to tout its plans to reduce tuition and fees by 10 percent next year
-- and to hail the effort to provide consumers with more accurate information about college costs. "The economic climate has changed in recent years, and higher education's approach to how families pay for their children's educations must change with it," Sewanee vice chancellor John McCardell Jr. said in a written statement. "For years, private higher education has operated on a model of having high tuitions and high discounts. Over the past generation the most selective schools in the country got into the habit of listing a high sticker price and then discounting that price as needed in order to fill a class. This model is becoming financially unsustainable." Starting Friday, new rules also require career and vocational colleges to disclose more details about their programs, including graduation rates, typical loan debts and job placement rates. Such for-profit schools must describe that information on promotional material as well as online. ___ Online:
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