Rutgers University Approves $5.1 Billion Budget for 2022/23, Tuition & Fees Up 2.9%

The Rutgers University Board of Governors has approved a $5.1 billion budget that will be used during the 2022/23 academic year, including an increase in tuition and fees.

According to an announcement made by the university, tuition and fees will increase by 2.9 percent, Erudera.com reports.

The Chair of the Rutgers University Board of Governors, Mark A. Angelson, said that the university will remain committed to offering an excellent academic experience as well as affordable education at Rutgers making sure that the increase in tuition and fees will not affect Rutgers students in need.

“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,” Angelson said.

University’s statement notes that tuition and fees account for 28 percent of university income, through which the academic programs and university services, including library services, student health services, counseling, and financial aid, are supported.

“This budget will support a vibrant and enriching university experience, including world-class academic instruction and research opportunities, unparalleled patient care and essential public service as we move forward in these challenging times,” Rutgers President Jonathan Holloway said.

At Rutgers University-New Brunswick, in-state full-time undergraduate students in arts and sciences will have to pay $16,263 in tuition and fees during the next academic year if they do not qualify to receive any financial aid.

Typical undergraduate students in arts and sciences at Rutgers University-Camden, will be paying $16,112 before financial aid, while at Rutgers University-Newark, they will have to pay some $15,648.

Nearly three-quarters of Rutgers’ undergraduate students were financially supported during the 2020/21 academic year.

The new budget also includes:

• patient care services (21.5 percent)
• the State of New Jersey (20.1 percent)
• sponsored research (14.5 percent)

15.2 percent of the new budget will be spent on administration, operations and maintenance, some 5 percent on auxiliary expenses, including housing and dining operations and student transportation, and 2.7 percent on athletics. The university uses most of its budget for research, student instructions, public service as well as patient care.

Other universities across the US have this month announced hikes in tuition, including the University of Michigan and the Radford University.

The University of Michigan Board of Regents held a meeting on June 16, where an increase in tuition and a $15 minimum wage for all employees on campuses were approved.

Radford University also decided to increase tuition and fees for the 2022/23 academic year, during a meeting on June 13, which decision, according to the university, applied to the main campus and Radford University Carilion (RUC).