It looks like someone in the administration at Ashland University has been paying attention to recent economic news.

The College Fix reports.

RED TAG SALE: University Slashes Tuition by $10,000

Ashland University, a private university in Ohio, announced that it would slash it’s tuition price by $10,000.

Tuition will go from $28,908 price this year to $18,908.

The average scholarship will decline by about the same price, making the dollar-for-dollar price about the same. But the university hopes the new pricing structure will better reflect what student are actually paying.

“We wanted to make sure we were being transparent in our pricing and scholarship,” Ashland president Fred Finks told the Columbus Dispatch.

Currently, many private universities maintain a high “sticker price,” but the price students actually pay, after financial aid, tends to be much lower.

Concordia University, in Minnesota, recently experienced a 30% increase in applicants after cutting its tuition price by $10,000, according to the Dispatch.

Now that Ashland has followed suit, it may mark a trend toward more transparent tuition pricing, as private colleges compete for applicants and tuition dollars in a sluggish economy.