Drew University lowers tuition by $10,000
MADISON — A North Jersey college says tuition at institutions of higher education is too high — and is doing something about it.
Drew University said it will lower its tuition by 20 percent, starting with the 2018-19 school year. Tuition will be $38,668, or about $10,000 less than this year's $48,336. The reduction does not include a reduction in room and board or others fees.
College president Mary Ann Baenninger wrote on the university's website that still makes tuition beyond the reach of many families.
"But the reality is that most students and families do not pay the full tuition price thanks to the generous financial aid that Drew offers," she wrote. "In 2018–19, we estimate that 72 per cent of our students will receive need-based aid, and we will offer about $32 million in institutional grants and scholarship.
Baenninger called move a "tuition reset," taking the tuition level back to where it was in 2010.
All students both new and returning would pay the lower tuition.
The school said it recognized that the the tuition was not sustainable as it approached $50,000.
Baenninger said that the reduction will help the school reach its goal of having a "diverse community of learners" with lower tuition.
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