The University of Tulsa is reducing its annual tuition and fees.Starting with the 2027-2028 school year, students will pay $25,000 a year, down from $54,000. According to the University of Tulsa, the reduction makes it the most affordable private university in the region.WATCH: LOWERED TUITION: TU drops annual fees, costs to $25k a year LOWERED TUITION: TU drops annual fees, costs to $25k a yearThat rate will be locked in for first-time, full-time students."In the past two decades, tuition rates nationally have ballooned. Many families feel that a college degree is out of reach and that college administrators are out of touch," said University of Tulsa President Stacy Leeds.This is a developing story. Stay in touch with us anytime, anywhere -- 2 News Oklahoma on your schedule | Download on your TV, watch for free. How to watch on your streaming device Download our free app for Apple, Android and Kindle devices. Like us on Facebook Follow us on Instagram Watch LIVE 24/7 on YouTube ...read more read less