The price paid by students to colleges is called tuition.

Question

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Price is the amount of money that is charged for "something" of value.Of course,price may be called different things in different settings.Colleges charge tuition.Landlords collect rent.Motels post a room rate.Magazines have subscriptions.Country clubs get dues.Banks ask for interest when they loan money.Airlines have fares.Doctors set fees.Employees want a wage.People may call it different things,but almost every business transaction in our modern economy involves an exchange of money-the Price-for something.

The Price Paid by Students to Colleges Is Called Tuition