"Institutions that are already discounting for most students have a reasonable opportunity to cut their sticker prices without actually diminishing their net revenues, " said Sandy Baum, a senior fellow at George Washington University School of Education.

WSJ: University of the South Slashes Tuition, Cites Economy

Sandy Baum, an economist at Skidmore College whose research laid the groundwork for the proposed rules, said the department's regulations set the bar very low but the judge had created an impossible threshold because "there is no one right measure, " she said.

WSJ: For-Profit Colleges Score Victory With Judge's Ruling

"It doesn't help the long-term problem (of rising tuition) and the hope is this will buy time to think carefully about how to make sure that all students can get the federal loans that they need on good terms, " said Sandy Baum, an independent policy analyst for the College Board.

WSJ: Student Debt Sparks a Fight