A women's college in South Carolina is reducing undergraduate tuition by 43 percent. That means tuition at Converse College in Spartanburg will be $16,500 a year. It's currently about $29,000. College president Betsy Fleming says the move is in response to growing concern about rising tuition.
"I hope that this move will change the course and conversation in higher education, moving away from a high tuition, high discount model to a lower tuition that actually represents cost," Fleming says.