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Old 07-29-2007, 06:49 PM
Amanda L. Brennan
Posts: n/a
Default Drew = Most Expensive School in NJ.


My grandma cut this out of the paper for me today. It's in the NJ section of the Star Ledger.

How do you feel about attending a school that costs more than an Ivy League?
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Old 07-29-2007, 08:12 PM
Mike Richichi's Avatar
Mike Richichi Mike Richichi is offline
Join Date: Jun 2005
Location: Chatham, NJ
Posts: 220

Hey, Stevens costs more than Princeton too. . . ;-)

It's because Princeton didn't raise tuition at all this year. The article didn't analyze total cost of attendance, which would be slightly more interesting.

Princeton has a $13 billion endowment. They actually don't need to charge tuition at all.
--Mike Richichi
Director of Computing and Network Services

Last edited by Mike Richichi : 07-29-2007 at 08:15 PM.
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Old 08-08-2007, 01:10 PM
John D. Muccigrosso John D. Muccigrosso is offline
Junior Drewid
Join Date: Jun 2005
Posts: 112

And growing at more than 10% a year, so there likely up to about $15 billion by now.

Drew's total endowment is about $250 MILLION, so let's see...that makes our endowment about 1.6% of Princeton's. Since schools typically spend something like 4% of their endowment a year, Princeton is able to spend about 2 1/2 times our total endowment every year, and that's just out of their endowment funds. That doesn't include other sources of income, like tuition. So, no, Princeton doesn't really need to charge tuition.

And also remember that schools don't collect a full tuition from everybody.
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Old 08-08-2007, 01:11 PM
John D. Muccigrosso John D. Muccigrosso is offline
Junior Drewid
Join Date: Jun 2005
Posts: 112
Default Oops

Forgot this interesting table:

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Old 08-13-2007, 01:17 PM
Thomas M. Basgil
Posts: n/a

This hurts. No wonder Drew has such a high withdrawal percentage. Unfortunately, I don't think there's much to do. I'm sure Drew is doing everything possible (though, that's not always a good thing...Sodexho, anyone?) to lower tuition rates.

Then again...wasn't the freshmen class of 2010 (the biggest freshmen class to date, although this year might be different) given more financial aid individually than the rest of the classes? I don't quite understand how Drew has decided that, since it needs money, it will give away lots more money. It really pushed our school capacity...refurbishing of lounges into dorm rooms for a start...
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