The NJIT Board of Trustees approved a 4.5 percent tuition and fee increase for in-state undergraduate students for the 2011-2012 academic year. Revenues generated from tuition and fees along with level State funding from 2010-11 will support enhancement efforts including faculty recruitment, facility upgrades, information technology and laboratory upgrades, and upgrades in the University’s performing arts theatre. NJIT, the state’s science and technology university, was named this year by Bloomberg Businessweek as the best public college in New Jersey for return on investment.
The Bloomberg Businessweek survey of U.S. colleges and universities again showed NJIT in the top 8 percent of the 1052 colleges surveyed. The survey examined graduation rates, total cost to graduation, and ROI as a measure of earnings of graduates against the cost of a degree. The Bloomberg study was based on a report by PayScale Inc. NJIT was ranked 4th in the nation by PayScale among over 400 top state universities in terms of the salaries earned by its graduates.
“NJIT is clearly providing an extraordinarily rigorous education at an affordable cost for the scientific and technological professions,” said NJIT President Robert A. Altenkirch, PhD. “We have a strong commitment to providing generous undergraduate financial aid packages that we will continue to sustain. More than 81 percent of incoming students who have need receive aid. In that group, we meet 80 percent of those students’ needs. The average undergraduate aid package exceeds $18,000.” Altenkirch noted that the increase in aid reflects the economic needs of students in response to the economy. The increase in the aid package also reflects an increase in the Pell Grant and state grants to support students’ economic needs.
Full-time, in-state, undergraduate tuition and fees will total $6,987 per semester beginning in fall 2011. Tuition and fees for out-of-state, full-time undergraduate students will be $12,667. In-state, full-time graduate student tuition and fees will total $9,074 per semester, and out-of-state, full-time graduate student tuition and fees will be $12,430.
Founded in 1881 as Newark Technical School and renamed NJIT in 1975, NJIT is New Jersey’s public, technological research university. The 45-acre campus with 26 buildings is located in Newark, one of the nation’s technology nerve centers.
The university offers 46 bachelor’s degree programs, 58 master’s degree programs and 19 doctoral programs. NJIT also offers a variety of continuing education programs from 12-credit graduate certificates to the Weekend University. Accreditations include the Middle States Association of Colleges and Schools (MSACS) Commission on Higher Education. The campus supports seven state-of-the art computer laboratories with extensive software libraries. Most are open seven days a week.
There are 408 full-time faculty members, of whom 89 percent hold doctoral degrees and 98 percent hold the highest degree attainable in their fields. More than 200 adjuncts enhance the academic opportunities. The undergraduate enrollment this past semester was 6,103; the graduate enrollment, 2,831.
NJIT is ranked a top tier national research university by US News & World Report, and ranked in the top 100 U.S. public universities in research and development expenditures in science and engineering by the National Science Foundation and in the top 40 of public universities without a medical school. (For more information, please visit www.njit.edu)