The move will make higher education more accessible and reduce their students' loan debt.

While most private universities are charging more every year, here is one college that plans to cut its tuition and fees for the coming academic year. The University of the South, or Sewanee as its commonly called, has approved a 10 percent reduction in fees to make its education more affordable and accessible. In a press release, the University's president John M. McCardell Jr. said that “higher education is on the verge of pricing itself beyond the reach of more and more families” and this move is an acknowledgment of the “new economic realities.”

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