Undergraduate tuition, room and board for the 2017–18 academic year was $62,000 (excluding books, personal expenditures, and health insurance), making Drew among the most expensive private universities in New Jersey. In September 2017, the school announced that it was cutting the list price of its tuition for the 2018–19 school year by 20%, from $48,300 to $36,600, as part of an effort to make the school more appealing to prospective students who had been deterred by the sticker price, which had been one of the state's highest.