Education

Montclair State Sets Tuition and Fees for 2014-2015 Academic Year

August 1, 2014 at 5:55 AM

 

MONTCLAIR, NJ - At a meeting July 24, the Montclair State University Board of Trustees approved a 2% increase in undergraduate tuition and fees for the 2014-2015 academic year, representing the smallest percentge increase in 30 years.

The approved level equates to a $82-per-semester increase and represents the smallest percentage increase enacted during the past 30 years at Montclair State.

According to Montclair State University President Susan A. Cole, the Board’s action will keep Montclair State’s undergraduate tuition well below the average of New Jersey’s senior public colleges and universities, continuing the University’s emphasis on accessibility, affordability and quality for New Jersey students.

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“This historic low percentage adjustment reflects the University’s ongoing efforts to keep tuition increases to a minimum in a very challenging economic environment while still delivering exceptional, high-quality academic programs for our students,” said Cole. “Unfortunately, Montclair State, like many of today’s colleges and universities, faces the continuing erosion of public appropriations for higher education, which at Montclair is coupled with continuing increases in the demand for places at the University.”

State appropriations to Montclair State have remained flat in recent years, even as enrollment has steadily increased at the University. The University’s projected enrollment for fall 2014 will reach 20,070, an increase of 3.1% as compared to the 2013-2014 academic year. The University’s state allocation per full-time-equivalent student has plummeted by almost 53% – from $4,795 to $2,274 – between 2001 and 2014.

“Montclair State receives less state support per full-time- equivalent student than any other senior public institution of higher education in New Jersey,” said Cole.

Despite stagnant state support, the University continues to implement cost savings measures while also steadily increasing student financial aid to help minimize the impact of its modest tuition and fees increases.

Anticipated expenditures for the coming academic year for need-based and merit-based grants and scholarships will represent a 56% increase over funding levels from the 2011-2012 academic year. This fall, the University will provide such direct aid to approximately 580 incoming freshmen, compared to 265 students four years ago, a 119% increase.

Currently, 40% of Montclair State undergraduates receive Pell grants and, for the 2013-2104 academic year, 7,548 undergraduate students received some form of grant or scholarship assistance that was applied toward their tuition and fee charges, representing 48.9% of all undergraduate students.

“The 2014-2015 tuition and fee structure will ensure that the University continues to rank as one of the most affordable of New Jersey’s state colleges and universities, while generating sufficient revenues to sustain our operations, support our successful programs and implement our strategic goals,” noted Cole. “Given the high quality and comprehensive nature of our academic programs, a Montclair State education will continue to be an excellent value for our students.”
 

 

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