Apparently, private colleges are finding that there’s just so far you can push families to pay for tuition and fees. Schools have been increasing their grants to lure students.

A study released today by the National Association of College and University Business Offices found that the so-called tuition discounting — how much school grants make up of tuition and fee revenue — reached an all time high of 44.3 percent for incoming freshman in 2011. And the group said that level is expected to reach 45 percent for 2012.

Discounting is used to increase undergraduate enrollment. NACUBO found that even with discounting, more than half of schools saw their number of freshman fall or remained flat from 2011 to 2012. Business officers at schools where enrollment fell cited “price sensitivity” for the reason, NACUBO says.