21 NJ Schools Among Money’s Best Colleges In America 2023

NEW JERSEY — Twenty-one institutions in New Jersey were recently named to Money Magazine’s Best Colleges In America list, an analysis that looks at graduation rates, tuition, financial aid and alumni salaries.

Rather than ranking the colleges, Money said it used a six-star rating system to develop the list of 736 colleges “where your tuition (and time) is likely to pay off.”

“While the underlying methodology is similar to previous years, the new rating system can help families with their college search by highlighting the variety (and diversity) of high-value colleges in the U.S.,” Money said, “We hope the ratings show that, depending on your individual characteristics, priorities and goals, there may be multiple top colleges to consider.”

In New Jersey, colleges selected for the list include:

Princeton University, Princeton (5 stars)

• Acceptance rate: 4 percent
• 2023-24 estimated full price: $82,300
• Estimated price with average grant: $22,400
• Graduation rate: 98 percent

New Jersey Institute of Technology, Newark (4 and a half stars)

• Acceptance rate: 69 percent
• 2023-24 estimated full price: $41,200
• Estimated price with average grant: $18,100
• Graduation rate: 82 percent

Rutgers University - New Brunswick (4 and a half stars)

• Acceptance rate: 68 percent
• 2023-24 estimated full price: $35,800
• Estimated price with average grant: $12,700
• Graduation rate: 81 percent

Stevens Institute of Technology, Hoboken (4 and a half stars)

• Acceptance rate: 53 percent
• 2023-24 estimated full price: $79,400
• Estimated price with average grant: $43,800
• Graduation rate: 85 percent

The College of New Jersey, Ewing (4 and a half stars)

• Acceptance rate: 62 percent
• 2023-24 estimated full price: $37,600
• Estimated price with average grant: $14,200
• Graduation rate: 85 percent

Caldwell University, Caldwell (4 stars)

• Acceptance rate: 96 percent
• 2023-24 estimated full price: $58,300
• Estimated price with average grant: $17,400
• Graduation rate: 70 percent

Centenary University, Hackettstown (4 stars)

• Acceptance rate: 98 percent
• 2023-24 estimated full price: $53,600
• Estimated price with average grant: $26,200
• Graduation rate: 66 percent

In many cases, Money said, the cost of college is a primary reason students choose not to attend college or struggle to graduate once they do. Overall, freshmen starting at a four-year college this fall will pay an average of $20,000 a year at public universities and $30,000 at private colleges if they receive financial aid.

Money started with more than 2,400 four-year public and private nonprofit colleges with at least 500 undergraduate students. To be considered, schools also had to meet graduation rate standards and meet other criteria.

Considering 26 data points, the schools were ranked in three categories:

• Quality of education (30 percent weighting);
• Affordability (40 percent weighting)
• Outcomes, including alumni earnings (30 percent weighting)

The full methodology is found on Money’s website.

This article contains reporting from Patch's national desk.