Rutgers Raises Tuition, Student Fees 4% as part of $5.6B Budget

NEW BRUNSWICK – The typical Rutgers undergraduate student will face a 4% tuition increase for the 2024-25 academic year, and mandatory student fees will also rise by 4%.

Additionally, housing room rates and residents’ education fees will go up 6% and dining plan rates will increase by 8% for students on the New Brunswick and Newark campuses. Dining plans will rise 11% for Rutgers-Camden students.

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The hikes were unveiled Monday as the Rutgers Board of Governors voted to adopt a $5.6 billion budget during a virtual meeting.

The typical arts and sciences undergraduate student who is a New Jersey resident will see on average a $274 spike per semester in his or her tuition bill and a $63 rise per semester in mandatory student fees.

A slide presentation unveiled titled “Total University Cost Pressure” noted that the school is trying to manage factors that include negotiated salary increases and associated fringe benefits, rising health care premiums and pension contributions, need-based student financial aid and the rising cost of supplies, travel and contracted services.

The school is facing an expected deficit of $41.3 million, said J. Michael Gower, Rutgers’ executive vice president, chief financial officer and treasurer.

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A pie chart illustrated that 77% of the school’s $5.6 billion budget will be dedicated to student instruction, research, public service and health care, and 15% is earmarked for administration, operations and maintenance.

About 3% of the school’s budget will be spent on its athletics programs.

About 27% of Rutgers’ budget is generated through tuition and fees, and 21% comes from state funding. The remainder comes from: health care services 20%; sponsored research 15%; miscellaneous sources (housing, dining, parking services, student aid, athletics, gifts, donations, endowment income, investment income) 17%.

According to a press release from the school, about 75% of undergraduate students receive some form of financial aid through programs such as the Scarlet Guarantee in New Brunswick.

“We’re committed to providing access to an excellent academic experience and this budget reflects the commitment while meeting our financial responsibilities,” said board chair Amy Towers.

“The 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.

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