Price Competition in College Education

Newbury College, a private, non-profit school in Brookline, Mass., today announced a three-year, $45,000 bachelor's degree. Colleges are competing on price already with financial aid offers, but the innovations here are the pricing transparency, the predictability, and, so far as I can see, at least, that the price is available no matter how much your family income or assets are. In a sense, the more interesting question is why there hasn't been more such competition already.