The average tuition discount at private nonprofit colleges hit another record high last year, according to a new National Association of College and University Business Officers study. Discount rates for first-time undergraduates reached 54.5 percent, according to preliminary estimates from the 2021 NACUBO Tuition Discounting Study, released Thursday. That number is up from the previous year’s record high of 53.9 percent. Simplified, that means colleges forego about $54.50 for every $100 charged for tuition. NACUBO defines the institutional tuition discount rate measured in the study as “the total institutional grant aid awarded to first-time undergraduates as a percentage of the gross tuition and…

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