Battling concerns from parents and students that they’ll toil in school for a half-decade or more without landing a degree, several private colleges are offering four-year degree guarantees. As long as students agree to meet with advisers and succeed in class, the colleges will waive tuition for any additional years it takes to finish up.

The New York Times reports around 15 schools are offering such programs. The parents and students sign agreements with school presidents to seal the deals.

Private schools are typically more efficient at sending their students through their degree programs. They graduate 80 percent of undergrads within four years, as opposed to their public counterparts, which only graduate half their students in that span.

The catches of the four-year guarantees include exceptions for students who switch majors late in the game or take time off. As a result, colleges that offer the guarantees rarely have to make good on the free tuition.

Pay for Only 4 Years of College. Guaranteed. [The New York Times]

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