Colleges' Latest Offers

By Dr. Marciene Mattleman

PHILADELPHIA (CBS) - With families struggling with college costs and concern about the potential payoff of a degree, student enrollment has dropped and a growing number of small liberal arts colleges are adjusting their marketing strategies to attract students.

Pitches include: free classes after five years, apply now and get $2500 cash back, buy seven semesters, get one free.

At least two dozen private colleges froze tuition this past semester. Students at Union College in Kentucky receive their 8th semester tuition-free, if they maintain a 3.5 grade point average. At Spring Arbor University in Michigan, employed students earn loan-repayment assistance.

At Nebraska Wesleyan College, where only 55% of students graduate in four years, those who maintain a certain GPA, get the fifth year free if needed.

Will more well-known colleges follow this trend? Stay tuned…

Read more in the Wall Street Journal.