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#3 Best Public Universities in New Jersey

NJIT Tuition & Cost

Newark, New Jersey

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How much does it cost to attend?

In State New Jersey Resident Sticker Price
$38,574
In State Costs for New Jersey Institute of Technology
Fee Cost
Tuition$14,448
Books and Supplies$2,900
Other Fees$3,226
Room and Board $13,900
Other Expenses Budget$4,100
Out of State Resident Sticker Price
$54,286
Out of State Costs for New Jersey Institute of Technology
Fee Cost
Tuition$30,160
Books and Supplies$2,900
Other Fees$3,226
Room and Board $13,900
Other Expenses Budget$4,100

Residents of New Jersey pay an annual total price of $38,574 to attend New Jersey Institute of Technology on a full time basis. This fee is comprised of $14,448 for tuition, $13,900 room and board, $2,900 for books and supplies and $3,226 for other fees.

Out of state residents are charged a total cost of $54,286 which is 40.7% higher than New Jersey residents. The tuition charge is $30,160 while room and board is $13,900, books and supplies are $2,900 and other fees come in at $3,226.

All price data is sourced from the 2020/2021 U.S. Department of Education National Center for Education Statistics survey.

Net Price

Net price is indicative of what it actually costs to attend New Jersey Institute of Technology when typical grants and scholarships are considered. The net price varies by family income and financial need.

Average Net Price 2019/2020
$18,328
Net Price by Income New Jersey Institute of Technology
Family Income Net Price Paid
$0 to $30,000$12,784
$30,001 to $48,000$14,022
$48,001 to $75,000$18,451
$75,001 to $110,000$23,854
$110,000+$24,952

The average reported annual net price for New Jersey Institute of Technology for students receiving grants or scholarship aid was $18,328 in 2019/2020. Net price includes tuition and required fees, books and supplies, and average cost for room and board and other expenses

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Financial Aid

92% of full-time undergrad New Jersey Institute of Technology received financial aid in the form of grants, scholarships, fellowships from the institution or from Federal, State or local government agencies. This aid averaged $15,925 per student during the 2019/2020 school year. Grant and scholarship aid does not need to be paid back. 38% of students received Federal Student Loans averaging $5,124 and 7% of undergrads took out private student loans averaging $16,840.

Finanical Aid New Jersey Institute of Technology
Type Avg./Student Students Receiving
Total Grant and Scholarship Aid $15,925 92%
Institutional Grants and Scholarships $12,176 69%
Pell Grants $5,202 35%
Other Federal Grants $1,467 33%
State and Local Grants $9,152 33%
Federal Student Loans $5,124 38%
Other Student Loans $16,840 7%

Student Loans

To gauge a more realistic picture of what it may really cost you out of pocket to go to New Jersey Institute of Technology, we've modeled a ten year student loan with an original principal value of $54,596. The loan balance of $54,596 is a four year multiple of the $13,649 average net price. This is a estimate of what you could owe upon graduation if you were to qualify for average financial aid and what a degree really may cost. Should you not qualify for financial aid, you may owe significantly more when you graduate. Based on these assumptions, a monthly repayment of $521 could be required to satisfy your student loan.

Please note that financial aid is not guaranteed and is only available for qualifying students. Federal Student Loans are not grants and must be repaid with interest. The current Stafford loan interest rate is 2.75%.

Example Loan $54,596
Stafford Loan Interest Rate 2.75%
Time to Pay Off Student Loan 10 years
Example Monthly Payment $520.91
Total Interest Paid $7,912.73
Sum of All Loan Payments $62,508.73

Projected 4 Year Degree Price

4 Year Sticker Price
$154,296
Year New Jersey Residents Non Residents
1 $38,574 $54,286
2 $39,156 $55,106
3 $39,747 $55,937
4 $40,347 $56,782

Based on published tuition prices, we estimate the current cost of a 4 year bachelor's degree and living expenses at New Jersey Institute of Technology to be $154,296 - assuming graduation in normal time. The estimation assumes a 1.5% annual increase over the next 4 years which has been the recent trend for this school.

Credit Hour Cost and Price per Class

Credit Hour and Class Costs at New Jersey Institute of Technology
Price Per Credit 3 Credit Class 4 Credit Class
New Jersey Residents $549 $1,647 $2,196
Out of State Residents $1,289 $3,867 $5,156

Estimated cost for a class at New Jersey Institute of Technology based on published credit hour prices. Note that not all schools allow single class enrollment. These prices should be used for comparison purposes as to how much it may cost to take a class at New Jersey Institute of Technology versus other colleges.

Tuition Payment Plans Available

New Jersey Institute of Technology Payment Plans
Tuition Payment Plan Yes
Prepaid Tuition Plan No
Alternative Tuition Plan Yes
Guaranteed Tuition Plan No

Primary data source, U.S. Department of Education https://nces.ed.gov/collegenavigator/?id=185828 IPEDS survey data for New Jersey Institute of Technology.