Get Your College Education Here, Prices Slashed

College Education, Bargain Price 1

Jeff Amberg for The Chronicle

Betsy Fleming (in yellow jacket), Converse College's president, says slashing tuition 43 percent clarified the real cost of attending the college.

Betsy Fleming, channeling the late management guru Peter Drucker, says there are two crimes in business: Pretending to cost more than you do, and buying customers. "Colleges are in the business of doing both," says Ms. Fleming, president of Converse College, a women's institution in South Carolina. "We are not going to do that anymore."

Last month Converse became one of the latest institutions to announce that it was going to slash its tuition, of $29,124, which no one paid anyway,