Rutgers University Will Raise Tuition; $5.1B Budget Approved

NEW JERSEY — Tuition costs for students will rise at Rutgers University for the new school year, administrators say.

On Tuesday, the Rutgers University Board of Governors approved a $5.1 billion budget for the 2022-2023 academic year that includes a 2.9 percent increase in tuition and fees.

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.

However, according to Rutgers, the majority of its 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 percent of the published cost of attendance. The net price for a Rutgers-Newark student was 44 percent of the total cost, and 39 percent for a Rutgers-Camden student.

• See related article: Make $100K Or Less? Rutgers Caps Tuition For Many Students

Rutgers administrators noted that the latest tuition hike is “nearly two-thirds below the current rate of inflation.”

Tuition and fees account for more than 28 percent of university revenues, administrators said.

“This is a reasonable budget that pays careful attention to expenditures during a time of many challenges, including rampant inflation and uncertainty about the continuing effects of the pandemic,” said Michael Gower, executive vice president, chief financial officer and university treasurer.

According to administrators, other budget highlights included:

• REVENUE - “In addition to tuition and fees (28 percent of revenues), other revenue sources in the new budget include patient care services (21.5 percent), the State of New Jersey (20.1 percent) and sponsored research (14.5 percent). Miscellaneous sources account for nearly 16 percent of revenues.”
• EXPENSES - “More than 77 percent of the budget is spent on the university’s core mission of student instruction, research, public service and patient care. The newly adopted budget spends 15.2 percent on administration, operations and maintenance and nearly 5 percent on auxiliary expenses, including housing and dining operations and student transportation. Athletics spending accounts for 2.7 percent of the budget.”

A coronavirus-related freeze on tuition and fee hikes at Rutgers University ended with the 2021-2022 school year.

Last year, the Rutgers University board of governors approved a $4.8 billion budget that contained a 2.6 percent combined increase in tuition and fees. It included a 2.5 percent increase in tuition and 2.9 percent increase in mandatory fees for most undergraduate and graduate programs.

• See related article: Coronavirus Freeze Ends: Rutgers Hikes Tuition, Fees By 2.6%

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