The University of Iowa (UI) is doing something to help prospective students that not many schools are: lowering or freezing tuition prices.

Announced on the school's website, UI's law school will see a 16 percent decrease in tuition for in-state and out-of-state students. That equates to $4,300 less for Iowa residents and nearly $8,000 less for non-Iowa residents.

Gail Agrawal, dean of UI's law school, said the decision, approved Wednesday by the Iowa Board of Regents, will help the school stay competitive in a time when less people are applying to law school.

"The University of Iowa College of Law has long been recognized as providing high quality for an affordable price," Agrawal said in the school's press release. "We want to take a leading role in the evolving face of legal education and ensure our place as a best value proposition among the top public law schools."

She said the decision was also to hopefully encourage incoming students to follow their dreams of going to law school without a ridiculous tuition price standing in the way.

While $22,000 for in-state residents and $39,500 for out-of-state students may not be "cheap," Iowa College of Law boasts a 94 percent job placement rate from the class of 2012. That figure applies to graduates who found a job within nine months of graduation; the current national average is 84 percent.

Iowa College of Law also announced it will sign the 3+3 agreement with several undergraduate schools in the state. The 3+3 agreement essentially takes one year off the total time typically taken to receive a bachelor's and law degree.

True to the formula on the name, the agreement is an initiate to help students finish both degrees in six years instead of seven. Agrawal said this allows students to pay one less year of tuition and enter the job market that much sooner.

"We are trying to make the choice to come to law school easier for those who aspire to become lawyers and are truly motivated to study law even in uncertain times," she said.