What Does It Cost to Attend The College of New Jersey?
There are lots of factors to consider when comparing highly selective institutions like the College of New Jersey (TCNJ) against one another. One of the factors on top of students’ minds when choosing a college is cost—a recent study shows that roughly 40% of students turn down their first choice of schools because of the price.
As costs for institutions like the College of New Jersey continue to climb—according to a survey by the College Board, between 2013-14 and 2018-19, the average tuition and fees at public four-year colleges and universities rose by 7%, from $9,590 to $10,230—the expense of an institution is increasingly focused on. This is especially true of a school like TCNJ, which has a tuition exceeding $30,000 for in-state students and is even more expensive for out-of-state students.
Before stress over the sticker price of The College of New Jersey sets in, it’s important to know that most students do not pay the published price for college. Keep reading to learn how you can calculate the actual cost of attending The University of New Jersey along with getting a few tips on how to further save on the expense of your education.
Why College Costs of Attendance Are Highly Variable
The cost of college is highly variable and numerous factors such as federal, state, and local aid; institutional grants; and merit-based scholarships all impact what a student will pay for school. While list price of a college is a good starting point when trying to get a feel for the cost of college, to get a better understanding of what an institution will cost out of pocket, you’ll need to calculate its net cost.
Net cost takes into consideration any need- and merit-based aid awarded to a student and deducts it from the list price of the institution to provide a clear idea of what a student can expect to pay for school.
The College of New Jersey’s List Price
TCNJ is a public college; because of this, in-state and out-of-state students will pay different prices to attend. In-state students paid $33,577 for tuition, room, and board in 2016-2017 while the cost for out-of-state students was $44,754. Very few students will pay full price, however. Students who do pay full price for college are typically from affluent families with annual incomes of more than $175,000 who fall outside of the top 30% of accepted students academically.
Cost of Attendance with Financial Aid at The College of New Jersey
The average net cost of TCNJ with financial aid is $37,906 (is this price correct? It’s what is listed in the Trello doc but doesn’t make much sense) for in-state students. Out-of-state students receiving financial aid paid $43,083 on average.
What Is the Family Income-Based Cost of Attending The College of New Jersey?
The income level of a student’s family plays a large role in determining how much a student will pay for TCNJ. Typically, students from lower-income families will pay less than those coming from higher-earning families. Here are the average net costs for TCNJ students after receiving financial aid based on family income:
|Average Net Price
Merit Aid Net Price at The College of New Jersey
Merit aid is awarded for a variety of skills and achievement both in and out of the classroom and isn’t based on financial need. 28.4% of TCNJ students without financial need receive merit aid. The average amount of merit aid awarded to students without financial need is $1,489.
Student Loans at The College of New Jersey
It’s not uncommon for a student to still need help paying for college, even after considering grants and scholarships. Many students close this gap by taking out loans. This is true at TCNJ, where 71% of students take out loans. On average, an undergraduate at TCNJ borrows $4,501 in federal student loans over four years.
Student Outcomes at The College of New Jersey
Students attending TCNJ can feel confident about their return on investment in the institution; after all, Money ranked it one of the 20 Public Colleges Most Likely to Pay Off Financially in 2017. TCNJ graduates 85% of its students in six years. With an average salary of $58,500 ten years following graduation, TCNJ alumni outearn the $50,753 average income of a Ewing, New Jersey, (home of TCNJ) resident.
Local Area Cost Considerations
Taking into account a host of variables—such as the price of housing, transportation, utilities, and groceries—cost of living index is a useful number for understanding the relative expense associated with living in a particular area. The cost of living in Ewing, New Jersey, according to Sperling’s Best Places is 105.3, which is slightly higher (i.e., more expensive) than the national average of 100.
TCNJ is a residential college and believes being part of a college’s campus is an integral part of a student’s education—furthering their personal, social, and academic lives. Students who do wish to live off campus, however, will find apartments ranging in price from $897 a month for a studio to $1,749 for a three-bedroom.
The minimum wage in New Jersey is $8.85 an hour, which is $1.10 more than the federal minimum wage. TCNJ does have positions available for students; learn more at the college’s Career Center.
Ways to Save Money on College
In-state students at TCNJ are automatically considered for an academic scholarship with the submission of their application. Because of the outstanding reputation and the high quality of its applicants, the scholarship process is very competitive—less than half of admitted students are awarded a scholarship. Discover more about in-state scholarships on the TCNJ Admissions Department’s web page.
Scholarships are also available to outstanding out-of-state students. Out-of-state students interested in a scholarship are encouraged to submit their application as early as possible to increase their odds of being awarded a higher amount. Out-of-state students will automatically be eligible for a merit award if they rank in the top 30% of their graduating high school class, score higher than 1150 on Math and Evidence-Based Reading/Writing sections of the SAT, or earn a 23 or higher on the Composite section of the ACT. Learn more about out-of-state scholarships at TCNJ here.
Another scholarship available to TCNJ-bound students is the National Merit Scholarship. Awarded to students who score in the top percentile on the PSAT/NMSQT, over 15,000 students nationally benefit from this program every year. Read our post How to Qualify for the National Merit Scholarship Program to learn more about this prestigious award.
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