The Rutgers University board of governors Tuesday approved a 2.9% increase in tuition as part of the budget for the 2022-23 academic year.
Rutgers officials noted that the increase is nearly two-thirds below the current rate of inflation.
“We remain committed to providing excellence in academic experience and opportunity at an affordable and accessible price, and to ensuring that this necessary, measured increase does not affect our neediest students,” board of governors Chair Mark Angelson said. “Our focus on financial aid programs and net cost reflects that promise to our students, who have shown enormous resolve through the economic and other challenges of recent years.”
Tuition and fees, which account for more than 28% of university revenues, help fund academic programs and university services, including academic advising, library services, computing services, student health services, counseling and financial aid.
For in-state, full-time arts and sciences undergraduates at Rutgers University-New Brunswick, tuition and fees for the upcoming academic year will be $16,263 before any financial aid is applied.
At Rutgers University-Newark, tuition and fees for a typical full-time arts and sciences undergraduate will be $15,648, and, at Rutgers University-Camden, a typical arts and sciences undergraduate’s tuition and fees will be $16,112 before financial aid.
Best elected chair of Rutgers Board of Governors
William Best, a senior vice president at PNC Bank, has been elected as the new chair of the Rutgers University board of governors, the board announced Tuesday.
Best will assume the position July 1, and will succeed Mark Angelson, who will serve as vice chair after serving three terms as the chair.
The majority of Rutgers’ undergraduate students — nearly three-quarters — received some form of student financial aid in academic year 2020-2021. As a result, the estimated net price to attend Rutgers-New Brunswick for in-state, first-year students receiving aid was approximately 48% of the published cost of attendance. The net price for a Rutgers-Newark student was 44% of the total cost and 39% for a Rutgers-Camden student.
In addition, among the student financial aid programs are the Scarlet Promise Grants and undergraduate financial aid programs at Rutgers-New Brunswick, Rutgers-Newark and Rutgers-Camden. Those programs, combined with the New Jersey Garden State Guarantee, provide free tuition and mandatory fees for all eligible New Jersey students with family incomes below $65,000, and provide for significantly reduced tuition and fees for those whose families earn between $65,000 and $100,000.
Rutgers President Jonathan Holloway said the budget will help Rutgers have a great impact on the lives of its students.
“This budget will support a vibrant and enriching university experience, including world-class academic instruction and research opportunities, unparalleled patient care and essential public service as we move forward in these challenging times,” he said.