New Jersey Institute of Technology's (NJIT) Board of Trustees approved today a 7 percent tuition and fee increase for the upcoming 2006-2007 academic year, starting this fall. This year’s average net tuition increase is 4.4 percent based on the funding made available for new student awards. More than 70 percent of NJIT’s full-time undergraduates have financial need.
The commitment of the trustees to minimize the impact of tuition costs on its students resulted in bringing the increases below the state cap of 8 percent.
Full-time, in-state undergraduate students will pay $4,533 per semester for tuition, an increase of $297 from last fall. Out-of-state, full-time undergraduate students will pay $587 more per semester, totaling $7,925.
In-state, full-time graduate student tuition will be $5,948 per semester, an increase of $389, and out-of-state, full-time graduate students will pay a tuition increase of $626 per semester and total $8,450.
Full-time student fees will increase $45 per semester to total $720 per semester for undergraduates and $707 per semester for graduate students.
“NJIT’s value proposition is that we provide an affordable education for the technological professions—and we work hard to deliver on that promise,” said NJIT President Robert A. Altenkirch, PhD. “We are proud that The Princeton Review ranks NJIT as one of America’s top best value colleges based on NJIT’s lower tuition rate, aid to students and student academic performance. While recognizing state budgetary constraints, our obligation is to provide quality education, minimize tuition and serve as good stewards of public funds and physical assets. We are confident that our fiscal year budget in 2007 accomplishes these objectives.”