NACUBO’s early estimates indicate private nonprofit colleges are pushing tuition discount rates to new heights, extending a multi-year affordability strategy while net tuition revenue remains under pressure. The tuition discount rate for first-time undergraduates at private nonprofits is projected at 57.1% for 2025–26, up from 54.5% the year prior, and the highest level in the past decade. The study suggests most first-time undergraduates—90%—receive institutional aid, and 84% of all undergraduates receive it. Even with deep discounting, average net tuition revenue for all undergraduates fell by 1.9% after inflation in 2024–25, highlighting ongoing financial stability challenges for tuition-dependent institutions. Administrators are likely to view the data as a warning that retention alone may not eliminate financial strain. The findings can shape pricing strategies, scholarship budgeting, and enrollment management decisions across private nonprofit campuses.