While Converse’s reset was the most drastic, others including Concordia University, St Paul, in Minnesota, Ashland University in Ohio, Ave Maria University in Florida, Belmont Abbey College in North Carolina and Alaska Pacific University in Anchorage, have also recently announced tuition cuts.

For decades, most private college pricing has reflected the Chivas Regal effect — the notion that whether in a Scotch or a school, a higher price indicates higher quality.

“Schools wanted a high tuition on the assumption that families would say that if they’re charging that high tuition, they must be right up there with the Ivies,” said David L. Warren, president of the National Association of Independent Colleges and Universities. “So schools would set a high tuition, then discount it. But when the schools in your peer group all have discounts, it becomes an untenable competition for students, with everyone having to increase their discounts.”

At the nation’s most selective institutions, discounts are usually reserved for low- and middle-income students, and a third to a half of students pay the full sticker price. But colleges without a national reputation pass out discounts, in the form of aid, with a free hand — and not just to needy students.

“About a quarter of students at independent colleges are full-pay, and at institutions with small endowments and small name recognition, it’s single-digit,” Mr. Warren said.