In recent years, concerns regarding runaway college tuition and student loan debt have risen to the forefront of the public consciousness, undermining confidence in the value of a college degree. Ironically, the very issue that is now causing such alarm--high tuition--has been a signature feature of the financial model intentionally employed by the vast majority of smaller private colleges and universities in the United States, including members of the Council for Christian Colleges & Universities (CCCU). In the "high-price--high-aid" model, postsecondary institutions mark up their "sticker price" (meaning the publicized cost of attending per year) and then offset the tuition hike with sizable discounts that take the form of institutional grants marketed as scholarships. This article examines the institutional benefits and unintended consequences of tuition discounting, giving special attention to effects within the evangelical Christian segment of the private sector of American higher education. The article concludes by offering a set of principles for reforming tuition pricing and financial aid practices at Christian colleges and universities.