Drew Earns High Mark for Low Student Debt
Second year in a row.
September 2017 – Drew University is holding the line on student debt.
A new analysis of Peterson’s data shows that among New Jersey schools, Drew students graduate with the second lowest average debt per borrower. The No. 2 ranking is up from No. 3 last year, with only Princeton University students graduating with lower average debt.
“Your school is doing a great job at helping students afford their college education without having to take on the significant amount of student debt that holds back so many young adults today,” said Jeff Gitlen, a content marketing analyst at LendEDU, the company that creates the rankings.
Drew earns its high mark for low student debt as the University moves to reduce tuition by 20 percent. That reduction, which resets tuition at $38,668, will take effect during the 2018-19 academic year. For more on the tuition reset, click here.
A key reason why Drew students graduate with less debt is the generous aid that the school provides. This year, Drew awarded some $35 million scholarships and grants. That aid reduces the overall cost of education and therefore the amount of money that students need to borrow—either privately or through federal loans programs.
LendEDU, an online tool that helps students find lenders to refinance their loans, based its analysis on data about the Class of 2016, the most recent class for which such information is available. Peterson’s is an established clearinghouse for numbers related to higher education.