MADISON, New Jersey -- A private university in New Jersey is cutting tuition by 20 percent for the upcoming school year.
Tuition at Drew University in Madison will drop from $48,336 to $38,668, effectively matching 2010 pricing. With room and board included, the total cost of attendance will be $52,776.
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University president MaryAnn Baenninger says the tuition cuts will open the door for families "who thought it was closed to them."
The school saw a decline in enrollment after the 2008 financial crisis, where students opted for more affordable options for higher education. The university's endowment also decreased 19 percent last year.
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Enrollment representative Bob Massa says the tuition reduction will put Drew University below other colleges and universities which potential students apply to.
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