Rutgers University students will see a 2.9% increase in tuition and fees for the 2022-2023 academic year, which is almost two-thirds below the current rate of inflation.
This change comes as part of the Rutgers Board of Governors-approved $5.1 billion budget for the 2022-2023 school year.
“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. 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,” said Mark A. Angelson, chair of the Rutgers University Board of Governors.
The new budget spends more than 77% on student instruction, research, public service, and patient care; 15.2% on administration, operations, and maintenance; nearly 5% on auxiliary expenses, including housing and dining operations and student transportation; and 2.7% on athletics spending.
The majority of Rutgers undergrads – nearly three-quarters – received some form of student financial aid in the 2020-2021 academic year. 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 – 44% at Rutgers-Newark and 39% at Rutgers-Camden.