This college has a creative plan to make tuition cheaper, and it could be a model for other struggling schools

Grace College and Seminary first started making changes to its school in 2009 after seeing falling enrollment numbers, according to Chronicle of Higher Education reporter Beckie Supiano.

The main change was a three-year bachelor's degree program. While the accelerated degree attracted more students, Grace still faced challenges and in 2013 began to consider more changes to keep the school afloat.

For the upcoming academic year, Supiano reports, Grace is debuting a new plan that includes "a modest tuition cut, free textbook rentals, and a price that drops for returning students each year as they progress through college."

Explaining Grace's unusual new pricing model, the college's president told The Chronicle that the school thought, "if we're doing something, let's do it different."

So far, it seems to be working. While the full program officially goes into effect this fall, The Chronicle reports that Grace's enrollment stayed up after implementing the accelerated degree program, and student see excited by the new changes.

Here's how Grace College's new plan works, according to a video from the school: