If you got your acceptance letter, take some time to celebrate — because next up is figuring out how to pay for Rutgers University. Find out how much it costs and the kinds of student aid and resources available to help you.
Rutgers University tuition and cost of attendance
A state university in New Jersey, Rutgers has a main campus in New Brunswick and two more locations in Camden and Newark. More than 69,000 students attend school at these campuses, including nearly 50,000 undergraduates.
With college costs that are above average nationally and for the Northeast, however, Rutgers isn’t the cheapest way to earn an undergraduate degree.
The cost of attendance for in-state undergraduates living on campus at Rutgers was an estimated $33,992 per year for the 2017-2018 academic year. It included $11,744 in tuition, $2,889 in fees, and $13,910 for room and board.
Prices for out-of-state students were significantly higher. The cost of attendance for nonresident students living on campus was an estimated $50,374. It included $27,282 in tuition, $2,992 in fees, and $13,910 for room and board.
However, these numbers don’t reflect what students pay out of pocket for their degrees. The average annual price at Rutgers is $19,924 after grants and scholarships are applied, according to the U.S. Department of Education’s College Scorecard.
How to pay for Rutgers University
When it comes to figuring out how to pay for Rutgers University, help is available.
Students can tap a wide range of resources to help manage their costs. If you’re a Rutgers student or hope to be one soon, you’ll want to take advantage of these programs to pay for college. Here’s where to start.
Rutgers scholarships and grants
Students can explore how to pay for Rutgers University with the help of scholarships and grants specific to the university or the state of New Jersey.
Here are some of the standout awards available to Rutgers students:
Bridging the Gap: This grant for Rutgers-Camden students can cover up to 100% of costs not covered by need-based aid. Awards are based on the student’s family’s adjusted gross income.
Tuition Aid Grant: This need-based grant helps a third of full-time undergraduates in New Jersey, with awards of up to $7,236 per year for Rutgers.
NJ Stars II: This scholarship, which is open to students transferring to Rutgers after completing an associate degree at a New Jersey county college, awards up to $1,250 per semester.
Rutgers Future Scholars Program: High school students in Camden, Newark, New Brunswick, Piscataway, and Rahway school districts who would be first-generation college graduates can participate in this program.
Rutgers University-Newark Talent and Opportunity Pathways Program: This program, which is open to residents of Newark with household incomes of up to $60,000 per year, covers any gaps in costs after all other scholarships and grants are taken into account.
Rutgers students also can apply for merit-based scholarships. Each Rutgers campus has its own list of merit-based scholarships that can help high-achieving students cover their college costs.
Finally, Rutgers University’s financial aid office curates a list of private scholarships from other sources that could be a good fit for its students.
Tuition payment plans
A Rutgers tuition payment plan could make your college costs easier to manage and help you avoid student debt. It allows students or their families to pay college costs in smaller installments instead of big lump-sum payments.
Here’s an overview of the features:
- You can pay over the course of a year or semester.
- You can choose to pay over several installments, from two to 12.
- The plans are interest-free.
- Enrolling is easy and can be done by completing an online form.
- There’s a one-time enrollment fee of $60 for an annual plan or $50 for a semester plan.
Federal student aid at Rutgers
Submitting your Free Application for Federal Student Aid (FAFSA) is an essential part of figuring out how to pay for Rutgers University. The FAFSA will help you access federal student aid.
Federal Pell Grants are offered to students with demonstrated financial need. The grants can provide up to $5,920 in funds that don’t need to be repaid.
A Federal Supplemental Educational Opportunity Grant can offer between $100 and $4,000 to students based on their financial need. These grants don’t need to be repaid.
Federal Work-Study, used by the federal government to partially reimburse employers for wages paid to participating students, allows you to earn money through a part-time job.
Your FAFSA is also used by the state of New Jersey, Rutgers, and other organizations to evaluate you for other grants, scholarships, and student aid.
File your FAFSA early, before Rutgers’ FAFSA filing priority deadline, to make sure you’re eligible for these programs. The priority deadline is December 1 for incoming Rutgers students or January 15 for returning students.
Student loans at Rutgers
You’ll likely need to borrow money to pay for some of your costs at Rutgers. Just over half of Rutgers graduates (52%) have federal student loans, per the Department of Education’s College Scorecard.
Some student loans will cost less than others. One of the first sources to turn to is federal student loans. Submitting your FAFSA could help you access the following federal student loans for undergraduates:
- Direct Subsidized Loans have a 4.45% interest rate and a 1.066% loan fee. These loans also include an interest subsidy, which means the federal government pays any interest that accrues while you’re in college. Only students with demonstrated financial need are eligible.
- Direct Unsubsidized Loans have the same rates and fees as Direct Subsidized Loans but with a key difference: They don’t provide an interest subsidy. You’ll be responsible for all interest that accrues while you’re enrolled at Rutgers.
- Parent PLUS Loans are offered only to parents of undergraduate college students. PLUS Loans have significantly higher costs, with a 7.00% interest rate and a 4.264% loan fee.
In most cases, rates on private student loans won’t beat what you’d pay on Direct Subsidized Loans or Direct Unsubsidized Loans. However, every situation is different, so it’s a good idea to compare all your options before making a final decision.
Paying for Rutgers
It’s never too early to start planning for how to pay for Rutgers University. You’ll need time to find the right mix of scholarships, grants, federal aid, and student loans to cover the costs of your degree.
Whether you’re a high school freshman who dreams of being a Scarlet Knight or a community college student planning to transfer to Rutgers, start now. Take full advantage of every form of student aid offered to Rutgers students. Your dream college could be more affordable than you think.
Need a student loan?Here are our top student loan lenders of 2018!
|1 Important Disclosures for CollegeAve.
College Ave Student Loans products are made available through either Firstrust Bank, member FDIC or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.
2 Important Disclosures for Discover.
3 Important Disclosures for Ascent.
Before taking out private student loans, you should explore and compare all financial aid alternatives, including grants, scholarships, and federal student loans and consider your future monthly payments and income. Applying with a cosigner may improve your chance of getting approved and could help you qualify for a lower interest rate. Ascent Student Loans may be funded by Richland State Bank (RSB) or Turnstile Capital Management, LLC (TCM), which are not affiliated entities. Certain restrictions and limitations may apply. Ascent Student Loan products are subject to credit qualification, completion of a loan application, verification of application information and certification of loan amount by a participating school. All loan products may not be available in certain jurisdictions. Other terms and conditions apply. Ascent is a federally registered trademark of TCM and may be used by RSB under limited license. Richland State Bank is a federally registered service mark of Richland State Bank.
* Application times vary depending on the applicants ability to supply the necessary information for submission.
* The Sallie Mae partner referenced is not the creditor for these loans and is compensated by Sallie Mae for the referral of Smart Option Student Loan customers.
4 = Sallie Mae Disclaimer: Click here for important information. Terms, conditions and limitations apply.
5 Important Disclosures for PNC.
PNC Bank is one of the nation’s largest education loan providers. For over 40 years, PNC has been committed to helping students and their families make possible the adventure of college.
6 Important Disclosures for SunTrust.
Before applying for a private student loan, SunTrust recommends comparing all financial aid alternatives including grants, scholarships, and both federal and private student loans. To view and compare the available features of SunTrust private student loans, visit https://www.suntrust.com/loans/student-loans/private.
Certain restrictions and limitations may apply. SunTrust Bank reserves the right to change or discontinue this loan program without notice. Availability of all loan programs is subject to approval under the SunTrust credit policy and other criteria and may not be available in certain jurisdictions.
SunTrust Bank, Member FDIC. ©2018 SunTrust Banks, Inc. SUNTRUST, the SunTrust logo and Custom Choice Loan are trademarks of SunTrust Banks, Inc. All rights reserved.
7 Important Disclosures for LendKey.
Additional terms and conditions apply. For more details see LendKey
8 Important Disclosures for CommonBond.
A government loan is made according to rules set by the U.S. Department of Education. Government loans have fixed interest rates, meaning that the interest rate on a government loan will never go up or down.
Government loans also permit borrowers in financial trouble to use certain options, such as income-based repayment, which may help some borrowers. Depending on the type of loan that you have, the government may discharge your loan if you die or become permanently disabled.
Depending on what type of government loan that you have, you may be eligible for loan forgiveness in exchange for performing certain types of public service. If you are an active-duty service member and you obtained your government loan before you were called to active duty, you are entitled to interest rate and repayment benefits for your loan.
A private student loan is not a government loan and is not regulated by the Department of Education. A private student loan is instead regulated like other consumer loans under both state and federal law and by the terms of the promissory note with your lender.
If your private student loan has a fixed interest rate, then that rate will never go up or down. If your private student loan has a variable interest rate, then that rate will vary depending on an index rate disclosed in your application. If the interest rate on the new private student loan is less than the interest rate on your government loans, your payments will be less if you refinance.
If you don’t pay a private student loan as agreed, the lender can refer your loan to a collection agency or sue you for the unpaid amount.
Remember also that like government loans, most private loans cannot be discharged if you file bankruptcy unless you can demonstrate that repayment of the loan would cause you an undue hardship. In most bankruptcy courts, proving undue hardship is very difficult for most borrowers.
9 Important Disclosures for Citizens Bank.
Citizens Bank Disclosures
|3.69% – 10.94%1||Undergraduate, Graduate, and Parents||Visit CollegeAve|
|3.82% – 12.82%3||Undergraduate and Graduate||Visit Ascent|
|4.34% – 12.99%2||Undergraduate and Graduate||Visit Discover|
|4.12% – 10.98%*,4||Undergraduate and Graduate||Visit SallieMae|
|5.03% – 11.23%5||Undergraduate and Graduate||Visit PNC|
|3.88% – 12.88%6||Undergraduate and Graduate||Visit SunTrust|
|4.72% – 9.81%7||Undergraduate and Graduate||Visit LendKey|
|3.72% – 9.68%8||Undergraduate, Graduate, and Parents||Visit CommonBond|
|4.04% – 12.01%9||Undergraduate, Graduate, and Parents||Visit Citizens|