Pricey N.J. university slashes tuition by $10K for new students

Posted Oct 20, 2020

One of New Jersey’s most expensive universities will slash tuition by more than $10,000 for new students next school year as pricey colleges nationwide reconsider their sticker prices.

Fairleigh Dickinson University announced Tuesday that it will reduce its tuition to $32,000 a year at both its Florham Park campus and its Metropolitan campus in Teaneck for new full-time students.

The university currently charges $43,654 for the Florham Park campus and $41,154 for the Metropolitan campus.

“Many students and their families recognize the value of an FDU education, but understandably don’t believe they can afford the tuition,” said university president Christopher Capuano.

Fairleigh Dickinson believes reducing the tuition gives students more clarity concerning what they will actually pay as opposed to advertising a sticker price that does not include the grants or scholarships that they often receive, he said.

“We are removing significant obstacles and putting attainability of an FDU degree within reach of a wider range of individuals,” Capuano said.

College tuition skyrocketed nationwide for decades, far outpacing the growth of inflation and family income. Private college’s exorbitant price tags were considered synonymous with exclusivity.

But the market began to reset in recent years as more families eschewed expensive universities in favor of public or community colleges. Many of New Jersey’s private colleges, especially its smaller ones, experienced declining enrollment in the first half of the 2010s, leading to major shakeups and tuition cuts.

Drew University announced a 20% tuition cut in 2017 from $48,336 to $38,668.

Rider University said last month it will slash tuition by 22% next school year, dropping the price from $45,120 to $35,000 for new students.

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published this page in News and Politics 2020-10-21 02:54:56 -0700