How Much Do Colleges in New Jersey Cost and Are They Worth It?

How Much Do Colleges in New Jersey Cost and Are They Worth It?

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Higher education is a hot topic these days. With the fall semester fast approaching, students probably have a lot of questions they want answered.

Where am I going to live? What subjects do I want to take? What books should I buy?

How am I going to pay for this?

If that last question is hanging over your head, you’re not alone. A recent survey by ScholarshipOwl found that 90% of Gen Z students don’t yet have the means to pay their tuition for the upcoming 2024-2025 academic year.

“With tuition rates dropping in August, the unfortunate reality is that the majority of students will be taking out student loans to make up the difference,” says ScholarshipOwl. “Many students will also be rethinking their current college plans and looking for alternative options.”

According to Forbes Advisor, the cost of college has skyrocketed over the past 40 years. Total tuition, fees, and room and board costs rose 180% between 1980 and 2019-2020.

Outstanding student loan debt in the United States is over $1.7 trillion and has increased by 66% over the past decade, according to USA TODAY.

New Jersey Bill to Limit Tuition Hikes

With a student debt crisis and the cost of higher education skyrocketing, some New Jersey lawmakers are trying to help.

On June 13, the New Jersey legislature introduced bill A4538. If passed, it would prohibit public colleges and universities from raising undergraduate tuition by more than 2% over the previous academic year.

“Education is the cornerstone of opportunity and economic mobility. By limiting tuition increases, we aim to make higher education more accessible to all students, regardless of their financial background,” Assemblyman Cody D. Miller, one of the bill’s lead sponsors, said in a press release. “This bill is a step toward ensuring that our public colleges and universities remain within reach of every family in our state.”

The bill has now been referred to the Higher Education Committee of the General Assembly.

That said, it begs the question of how worthwhile New Jersey’s colleges and universities are, and what kind of prices undergraduates can expect to receive in the coming academic year.

Are New Jersey Colleges and Universities Worth It?

Money Magazine annually analyzes and ranks hundreds of four-year colleges in the United States to help potential students determine which schools are the best fit for them.

To compile the rankings, Money starts with a list of all four-year public and private nonprofit colleges in the country. It then narrows the list based on the number of students enrolled, the graduation rate, the financial status of the school, and whether reliable data is available for the school.

A total of 745 schools made the cut in 2024 based on those statistics. Those 745 were then ranked based on 25 factors in three categories, including quality of education, affordability and results.

Instead of ranking the colleges in numerical order, they are rated on the following five-star scale:

  • 5 stars: The school scores exceptionally high on most criteria.
  • 4.5 stars: The school scores well on several criteria, but on fewer criteria or to a lesser extent than five-star universities.
  • 3.5-4 stars: The school scores very well in a few areas and poorly in a few. The school could also score average in all areas.
  • 2-3 stars: Schools often have a combination of lower graduation rates, higher prices, or mediocre alumni salaries. However, Money says it’s important to note that these schools still meet minimum quality standards, unlike colleges that aren’t rated at all.

Below is Money’s list of New Jersey colleges and universities and their rankings for the 2024-2025 academic year, including the schools’ acceptance rate, estimated full price, estimated price with average grant, and graduation rate.

New Jersey Institute of Technology: 5 stars

  • Acceptance rate: 66%
  • Est. Full Price 2024-25: $41,800
  • Est. Price with average subsidy: $18,800
  • Pass rate: 83%

Princeton University: 5 stars

  • Acceptance rate: 6%
  • Est. Full Price 2024-25: $83,600
  • Est. Price with average subsidy: $19,800
  • Pass rate: 98%

Ramapo College of New Jersey: 4.5 stars

  • Acceptance rate: 70%
  • Est. Full Price 2024-25: $36,100
  • Est. Price with average subsidy: $17,200
  • Pass rate: 73%

Rutgers University – New Brunswick: 4.5 stars

  • Acceptance rate: 66%
  • Est. Full Price 2024-25: $37,200
  • Est. Price with average subsidy: $18,500
  • Pass rate: 82%

Stevens Institute of Technology: 4.5 stars

  • Acceptance rate: 46%
  • Est. Full Price 2024-25: $81,000
  • Est. Price with average subsidy: $44,100
  • Pass rate: 88%

The College of New Jersey: 4.5 stars

  • Acceptance rate: 64%
  • Est. Full Price 2024-25: $39,400
  • Est. Price with average subsidy: $23,500
  • Pass rate: 86%

Felician University: 4 stars

  • Acceptance rate: 89%
  • Est. Full Price 2024-25: $56,600
  • Est. Price with average subsidy: $16,600
  • Pass rate: 64%

Kean University: 4 stars

  • Acceptance rate: 83%
  • Est. Full Price 2024-25: $32,800
  • Est. Price with average subsidy: $11,400
  • Pass rate: 60%

Monmouth University: 4 stars

  • Acceptance rate: 91%
  • Est. Full Price 2024-25: $66,800
  • Est. Price with average subsidy: $33,200
  • Pass rate: 76%

Montclair State University: 4 stars

  • Acceptance rate: 91%
  • Est. Full Price 2024-25: $34,700
  • Est. Price with average subsidy: $14,500
  • Pass rate: 72%

St. Peter’s University: 4 stars

  • Acceptance rate: 89%
  • Est. Full Price 2024-25: $61,600
  • Est. Price with average subsidy: $12,700
  • Pass rate: 58%

Stockton University: 4 stars

  • Acceptance rate: 86%
  • Est. Full Price 2024-25: $36,400
  • Est. Price with average subsidy: $19,600
  • Pass rate: 75%

Centenary University: 3.5 stars

  • Acceptance rate: 97%
  • Est. Full Price 2024-25: $55,800
  • Est. Price with average subsidy: $23,200
  • Pass rate: 62%

William Paterson University: 3.5 stars

  • Acceptance rate: 92%
  • Est. Full Price 2024-25: $33,800
  • Est. Price with average subsidy: $13,700
  • Pass rate: 62%

Caldwell University: 3 stars

  • Acceptance rate: 66%
  • Est. Full Price 2024-25: $59,700
  • Est. Price with average subsidy: $21,800
  • Pass rate: 62%

Drew University: 3 stars

  • Acceptance rate: 73%
  • Est. Full Price 2024-25: $66,000
  • Est. Price with average subsidy: $29,800
  • Pass rate: 70%

Georgian Court University: 3 stars

  • Acceptance rate: 76%
  • Est. Full Price 2024-25: $55,800
  • Est. Price with average subsidy: $19,200
  • Pass rate: 66%

New Jersey City University: 3 stars

  • Acceptance rate: 90%
  • Est. Full Price 2024-25: $36,700
  • Est. Price with average subsidy: $20,400
  • Pass rate: 53%

Rider University: 3 stars

  • Acceptance rate: 84%
  • Est. Full Price 2024-25: $59,100
  • Est. Price with average subsidy: $27,900
  • Pass rate: 66%

Rowan University: 3 stars

  • Acceptance rate: 77%
  • Est. Full Price 2024-25: $38,300
  • Est. Price with average subsidy: $22,200
  • Pass rate: 71%

Seton Hall University: 3 stars

  • Acceptance rate: 75%
  • Est. Full Price 2024-25: $72,200
  • Est. Price with average subsidy: $35,400
  • Pass rate: 68%

Visit https://money.com/best-colleges/ for the full list of schools across the country.

For more detailed information about Money’s ranking methodology, visit https://money.com/best-colleges/methodology/.