This college used to be one of the most expensive in its state. Now it's $20,000 cheaper

A graduating student wears a money lei, a necklace made of US dollar bills, at the Pasadena City College graduation ceremony, June 14, 2019, in Pasadena, California.

It was once one of the most expensive colleges in the state. But now, Central College in Pella, Iowa, says it will drop its tuition price by $20,000. But sorry, current students -- the changes start next school year.

The price will decrease from over $38,000 to $18,600, room and board will stay the same, bringing the grand total to around $28,000, according to the school's website.

The change is highlighted in a bright red pop-up when you visit the college's website and takes you to a graphic page where students can to see the new total.

"Central views it as our responsibility to help bring rationality to the price of a high-quality college education," Central College President Mark Putnam said in a statement. "Central's new tuition and financial aid pricing is clearer and easier to understand. It's an important commitment to our students, families, alumni and donors."

The college said that the price is now competitive with other public universities in the state.

Further, the college's endowment scholarships have increased by 10 to 269.

"With our goal to continue this incredible momentum, addressing college tuition seemed important to Central's mission of providing access to a high-quality, liberal arts education for more people," said Tej Dhawan, chair of the college's board of trustees and a 1991 Central graduate.