New Jersey Institute of Technology is the only college or university in New Jersey named earlier this week by the Princeton Review as one of the nation’s best value undergraduate institutions. The information appears in a new guide available from the Princeton Review: America’s Best Value Colleges. The text profiled 150 public and private colleges with excellent academics, generous financial aid packages and relatively low costs. The Princeton Review chose the colleges for the book based on data the company obtained from administrators at 646 colleges, and its surveys of students attending them.
"We considered over 30 factors to rate the colleges in four categories,” said Robert Franek, vice president of publishing for The Princeton Review. Factors included: academics, tuition, GPA (the sticker price minus average amount students receive in scholarships and grants), financial aid (how well colleges meet students' financial need), and student borrowing.
“All of us at NJIT are pleased to be included on this list and be considered one of the best college values in the country,” said NJIT President Robert A. Altenkirch. “It validates our continuing efforts to make education in science and technology affordable for our nation's most talented young women and men, to prepare them for the knowledge-based economy to which they will be contributing.”
NJIT was included in the select listing because the school has long been known—especially throughout New Jersey--for giving, as the book says, a great “bang for the buck.” NJIT also demonstrates an especially commendable track record when it comes to providing need-based assistance to every aid applicant who demonstrates need. This year, 73 % of need-based aid packages included some form of grant or scholarship. On average, NJIT met 82 percent of aid recipients’ demonstrated need and was able to meet 100 percent of demonstrated need for 12 percent of aid recipients.
Non-need based aid is available for students with outstanding academic skills as well as for those who excel in the arts, drama, leadership, music, and athletics. Some scholarships are earmarked for students from groups underrepresented in science and technology, those with relations to alumni, ROTC participants, and students from particular countries or cities. Out-of-state freshmen are eligible for the Presidential Scholarship, which is worth $5,798 annually.
NJIT has an excellent record of placing graduates. In 2004, top employers of NJIT graduates included Citigroup, IBM, Lockheed Martin, Verizon Wireless, BAE Systems, Turner Construction, General Dynamics, ITT and UPS. A strong co-operative program also allows students to transition into full-time jobs. Recent graduates who took the co-op route have been placed at ADP, AT&T, BASF, Bristol-Myers Squib, Colgate Palmolive, Dow Jones, Exxon, Ford, Hewlett-Packard, Merck and more.