Drake University today announced a new tuition guarantee, which will allow the vast majority of undergraduate students to pay the same tuition price when they move in as freshmen as when they get their diplomas. “Paying for college is a significant investment for students and their families, and we don’t take it lightly that our students and their families have made the choice to invest in a Drake education,” Drake University President Marty Martin said in a release. Private universities similar to Drake have averaged annual tuition increases of 4.4 percent per year over the past five years. (Drake President Martin was meeting with Business Record reporters this morning, so check our P.M. Daily e-newsletter for more details.)