Concordia University is slimming down its financial model, moving away from the high-tuition, high-financial aid system in favor of a potentially more attractive one.

Concordia is reducing its cost of undergraduate tuition by $10,000 next fall, which might sound extremely appetizing but may not pay off for all students. Along with tuition, the University is shaving off financial aid packages for merit, need-based, and athletics scholarships.

The University is hoping this move will attract more families who judge the cost of higher education by the sticker price alone. The change might be especially appealing to middle-class families who make too much money to qualify for financial aid but are wary of paying full price for private schooling.

The new tuition of $19,700 a year becomes even more inviting when compared to other private colleges in Minnesota, which average at more than $33,000 a year.