Inside Higher Ed's story on the 2023 NACUBO report on tuition discounting was not surprising. It was also not particularly well-reported. The article seemed unable to clearly and consistently define tuition discounts. For example, the reporter quotes a NACUBO source, Ken Redd, that these increases in tuition discounts show that 'institutions are devoting a lot of their resources to make education more affordable relative to the tuition price". That is some serious wording choices. These tuition discounts do not reflect any resources being consumed from the colleges participating in this survey. They are only foregoing revenue from these discounts. There is no resource in nothing.The IHE report also suggested that most financial aid from institutions comes from undedicated revenue sources, like general funds, institutional reserves, endowment earnings, and fundraising. That too is a dance with words. IPEDS reports two fields that are instructive. They are unfunded and funded institutional grants. As we do at College Viability, let's go to the data.. . . . . . . . . .