These NJ Colleges Are Broke, New Report Shows

Forbes’ newest report on colleges’ financial statuses reveals which Garden State institutions are hitting the mark, and which are struggling with funds.

The report analyzes the financial health of more than 900 private not-for-profit colleges that enroll more than 500 students each. Using data from Perspective Data Science, the outlet was able to review these schools’ “true liquidity.”

Schools are given a grade between D and A+ based on their financial strength. Of the more than 900 colleges graded, almost half received a C or worse, and 27 percent earned the lowest grade, a D.

Among those earning a D were eight New Jersey private colleges. Forbes chalks up the poor finances to fewer high school graduates, less international student enrollment, inflation, more middle and lower-income families choosing more affordable state schools, and young people not going to college altogether.

Here are the New Jersey private colleges that received a D in the report:

• Pillar College
• Saint Elizabeth University
• Centenary University
• Saint Peter's University
• Caldwell University
• Drew University
• Rider University
• Felician University

The report graded 14 New Jersey schools. Just scraping by with a C- was Fairleigh Dickinson University. The only New Jersey private school that earned an A+, or an A score in general for that matter, was Princeton University.

State data shows that in 2025, there was a slight increase in college enrollment in New Jersey. However, most of the students opted for public institutions and community colleges, rather than private schools.

See the full Forbes report here.