The Board of Trustees at Montclair State University today set tuition and fee rates for the 2024-2025 academic year, and approved an increase to financial aid to help ensure students will continue to have access to an affordable, high-quality education.<\/p>\n
Tuition and mandatory fees will be $15,912 for in-state, full-time undergraduate students, an increase of $573.15 per semester. Montclair has the fourth-lowest tuition and fees among public universities in New Jersey, maintaining the institution\u2019s longstanding commitment to affordability.<\/p>\n
Montclair will grant more than $40 million in institutional aid, the highest total in University history. In addition, eligible incoming first-year students have access to the Red Hawk Advantage program, which ensures funding that reduces the total cost of attendance.<\/p>\n
Coupled with the State\u2019s Garden State Guarantee, many students have a pathway to graduate with little to no debt. Montclair\u2019s student debt, which averages $22,000, is far lower than the national average of $32,637.<\/p>\n
Montclair serves a truly diverse student body reflective of the State of New Jersey. More than 50% of undergraduate students identify as minority group members. The University is New Jersey\u2019s largest Hispanic-Serving Institution (HSI), enrolling more Latinx students than any other campus in the state. Some 45% of the incoming freshman class identify as Hispanic, and more than 28% identify as Black. Nearly half of Montclair\u2019s students qualify for federal Pell Grants because they come from lower-income families.<\/p>\n
Nearly 85% of Montclair students receive some form of financial assistance, and more than 30% of students will continue to see all of their tuition and fees covered. An additional 14% will pay less than $1,000 per year of their tuition and fees, and 24% will pay less than $10,000.<\/p>\n
Just one-third of students \u2013 who are not eligible for income-based assistance \u2013 will pay the full cost.<\/p>\n
\u201cI regret that we have to raise tuition, but rising costs leave us no other choice,\u201d says Montclair President Jonathan Koppell. \u201cWe remain strongly committed to providing an excellent education at an affordable price. We cannot balance our budget by compromising on quality or cutting back on services that our students need. What we will do is run this institution efficiently and deliver high value.\u201d<\/p>\n
Koppell pointed to statistics published by The Wall Street Journal<\/em> showing that the salary boost for a typical Montclair graduate covers their out-of-pocket cost of attending in less than two years.<\/p>\n \u201cA Montclair degree is one of the best investments anyone can make,\u201d Koppell says. \u201cIn just 20 months, on average, the investment gets repaid as a result of the graduate\u2019s higher salary, and the Montclair graduate goes on to reap the benefits for the rest of their working life.\u201d<\/p>\n Montclair\u2019s efficient operations also help keep the University affordable. \u201cWe produce exceptional outcomes at the lowest cost per degree of any public campus in New Jersey,\u201d Koppell says.<\/p>\n The Board of Trustees also set tuition and fees for out-of-state undergraduates at $26,022 per year, an increase of $948.15 per semester. Most master\u2019s degree students will pay $858 per credit, an increase of $24.50 per semester.<\/p>\n For more information on tuition and financial aid at Montclair, visit montclair.edu\/red-hawk-central<\/a>.<\/p>\n