Congratulations on making it to the Refinement Phase. In addition to insurance modeling, I would recommend that you seek input/assistance from economists and marketing professionals to get their input. For what its worth, my observation is that college tuitions are increasing because student demand exceeds current supply (e.g. application are up considerably) -- and that when colleges and universities compete, they do not compete on price but rather on other intangibles (reputation, quality of faculty, setting, etc.). Price control seems to work most effectively when competing goods/services are fungible.
There is some good data out there as well that may help you refine the value proposition -- perhaps start with http://www.census.gov Good luck.