When it comes to college, rising costs are a seemingly unstoppable force.
However, some schools are bucking the trend, slashing tuition in hopes of attracting more students and families struggling with the weight of a college tab.
Most recently, Drew University, a New Jersey-based private college, announced it is lowering the price of its tuition by 20 percent, to $38,668 for 2018-2019 from $48,336 for 2017-2018.
"We have to have our finger on the pulse of how students are making choices," Drew President MaryAnn Baenninger said. "A lot of families will search based on published price, and if they are looking for private liberal arts colleges under $40,000, we don't show up."
In addition, even though college enrollment is on the rise, competition among schools for the top students is fierce. Schools like Drew are making a bet that the reduced costs will attract more student applicants, raising the overall bar for the school.
"Our goal now is to increase applications and accept students at the same rate," Baenninger said.