Drew University Cuts Tuition By 20%

MADISON, NJ — Attending Drew University will be much cheaper next year than it was this year, after the school announced they'll lower their tuition rates by 20 percent. The rates will go back to what they were in 2010.

Beginning the fall 2018 semester, tuition at the private four year university in Madison will drop to $38,668, from $48,336. That does not include room and board, which is about $14,000 per year, nor does it affect graduate tuition rates.

"Our current published tuition price makes it seem as if the value of a Drew education is 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," university president MaryAnn Baenninger wrote.

This year's tuition is about $10,000 more than it will be next year, and has gone up about 3 percent every year. 72 percent of all students receive an average of $30,000 in aid, making the true cost of attending Drew much lower than the sticker price. (For more information on this and other neighborhood stories, subscribe to Patch to receive daily newsletters and breaking news alerts.)

The actual price could remain the same despite lowering the sticker price.

"With a lower published price, the need for financial aid in general will be lower, so merit and need-based grant aid from Drew will necessarily be less than it would have been under a higher price," the university wrote in a frequently asked questions section.

Drew's sticker price is still significantly more expensive than Rutgers, a public university, which only charges $14,372 to in-state students. For out-of-state students, the two are comparable, with Rutgers charging $30,023 in tuition.

Image via Shutterstock