Students at Rutgers University will have to pay higher tuition and fees starting in the fall after the school’s board approved a 4% tuition hike. For New Jersey residents, tuition will increase on average $274 per semester. That will be more than doubled for out-of-state students.
Students are Rutgers University will soon need to pay a higher premium for education as the school's Board of Governors, on Monday, voted to raise tuition by about 4%.
In a statement released following the board's decision, school representatives note that tuition would increase from $6,837 to $7,111 -- or about a $274 increase -- per semester for a typical full-time arts and sciences undergraduate who is a New Jersey resident.
Rutgers officials said the increase, part of a $5.6 billion budget plan, will still allow the school to remain accessible and affordable for students.
“This budget is prudently planned to allow us to meet rising costs while continuing to do what Rutgers does best: provide our students with exceptional academic, research and public service opportunities as they pursue their education and become engaged citizens,” Rutgers president Jonathan Holloway said in a statement.
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According to Rutgers officials, the budget will break down to afford:
- Classroom instruction and academic support, including faculty compensation and staff support for academic units, libraries, and deans’ offices (33% of the budget).
- Student services and scholarships, including financial aid and social and cultural events (11%).
- Sponsored research and other sponsored programs, including funds spent on research associated with federal, state and nongovernmental grants and contracts (12%).
- Public service, extension and health care, including agricultural extension programs, delivery of health care, support for health clinics and community services provided throughout the state (21%).
Also, officials said that funding for the budget -- which is up from $5.4 billion last year -- comes largely through tuition and fees (27%); the State of New Jersey (21%); health care services (20%); sponsored research (15%); and miscellaneous sources, including housing, dining, parking services, student aid, athletics, gifts and donations, and endowment and investment income (17%).
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“This year, efforts will continue to strengthen the university’s long-term financial sustainability,” said J. Michael Gower, Rutgers’ executive vice president, chief financial officer and treasurer. “We are looking for ways to do things differently and better as we pursue opportunities to generate additional net revenue to fund new initiatives, make maintenance improvements and replenish reserves."
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