精品成人福利在线 University has a century-long tradition of providing high-quality education to the citizens of New Jersey at affordable tuition and fee rates.\u00a0 As we prepare to set tuition rates for next Fiscal Year, the University will again be faced with limited state operating support for higher education.<\/p>\n
Historically, tuition and fee rates have been significantly affected by changes in state appropriation, and, as is usually the case, final tuition and fee proposals will be presented to the Board of Trustees after the New Jersey State Legislature approves a spending plan and it is signed into law by the Governor, which is scheduled to occur in June.\u00a0 The April tuition and fees hearing is intended to provide the Board of Trustees with the opportunity to hear the views of the University community on this very important subject in order to inform their decision.<\/p>\n
The Board of Trustees will consider a number of factors in deciding whether to recommend changes to tuition rates, including: the availability of state funding for general and fringe benefit appropriations; the current level of student charges, including tuition and fees; comparative tuition and fee rates for undergraduate and graduate programs at State and benchmark institutions; the availability of financial aid programs; efforts to improve graduation rates and thereby reduce student debt; the University\u2019s immediate and long-term strategic priorities; and changes resulting from state-negotiated collective bargaining agreements and other mandated programs.<\/p>\n
Several sources of revenue enable the University to deliver its educational services and requisite support functions.\u00a0 The most important of these are revenues generated through student tuition and fees and appropriations from the State of New Jersey.\u00a0 For Fiscal Year 2018, 57 percent of the University\u2019s total operating budget comes from tuition and fees, while total appropriations from the State of New Jersey yield only 19 percent of total revenues.\u00a0 Auxiliary enterprise revenues represent another 19 percent; however, this income is dedicated to expenditures related to auxiliary enterprise activities, including their debt service.\u00a0 All remaining revenue sources amount to only 5 percent.\u00a0 The proportion of revenues provided by State appropriations has been declining over the past decade, while the proportion generated through tuition and fees has been increasing.\u00a0 This trend is expected to continue next fiscal year, as the Governor has proposed keeping general operating appropriations for 精品成人福利在线 University at $35.9 million, the same amount received over the prior three fiscal years, and $14.5 million less than the University was receiving in FY2006.\u00a0<\/strong><\/p>\n The university’s financial aid to undergraduate students continues to grow.\u00a0 Anticipated expenditures for the coming academic year for need and merit-based grants and scholarships will represent an 18.5% increase in funding over academic year 2017-2018 and a 130% increase over funding levels since academic year 2011-2012.\u00a0 Funds earmarked for need-based awards will make up 54% of university financial assistance in the next academic year compared with 20% in 2011-2012.\u00a0 It is important to note however, that 75% of students who received merit awards in academic year 2017-2018 were also students who demonstrated need.\u00a0 This fall the university will provide need and merit-based aid to approximately 850 incoming freshmen, compared to 265 entering freshmen just five years ago.\u00a0 Forty-four percent of all undergraduate students enrolled at the university in academic year 2017-2018 received Federal Pell Grants, 7,362 recipients out of a total fall semester undergraduate enrollment of 16,852 students.\u00a0 By definition, students receiving Pell Grants are presumed to be capable of financing only a very small fraction of their educational costs. The figures above reflect the number of student recipients in each of the respective programs, but most students received funding from multiple programs. For academic year 2017-2018, 13,786 undergraduate students received funding from one or more programs. In the fall 2017 semester, 77.6% of all undergraduates received some form of assistance.<\/p>\n In the Federal Pell Grant Program, the maximum award for academic year 2017-2018 is $5,920.\u00a0 Award amounts for academic year 2018-2019 have not yet been finalized, however it appears that Congress is poised to approve a maximum award of $6,095, an increase of $175.\u00a0 In academic year 2017-2018, 4,394 精品成人福利在线 University students were eligible for receive the maximum Pell Grant.\u00a0 The 7,792 total Pell Grant recipients received $2.2 million more in Pell Grant funding in academic year 2017-2018 than in the previous academic year.<\/p>\n The university has been informed that it will be receiving an increase of $105,455 in Federal Campus-Based funding in the Federal Supplemental Educational Opportunity Grant and Federal Work-Study programs for academic year 2018-2019, an 8% increase in funding over the prior year.<\/p>\n 精品成人福利在线 students received $4.4 million more in Tuition Aid Grants (TAG) in academic year 2017-2018 than in the previous academic year.\u00a0 This was due in part to the university\u2019s designation as a Research Institution which resulted in expanded TAG eligibility for 精品成人福利在线 students.\u00a0 For academic year 2017-2018, 6,540 精品成人福利在线 students received TAG awards, an increase of 1,229 students over the prior academic year.<\/p>\n Governor Murphy has requested a $7 million increase in funding for the TAG Program in his recently announced budget proposal for FY19.\u00a0 At this point it is not clear how these incremental funds will be allocated.\u00a0 While the TAG Program is tremendously beneficial to 精品成人福利在线 students, the program could be doing much more.\u00a0 The allocation of funds to individual institutions is inequitable to most public four-year institutions and the program is in need of reform.<\/p>\n The U.S. Department of Education recently released three-year draft cohort default rates for Fiscal Year 2015 for all colleges and universities.\u00a0 精品成人福利在线 University\u2019s reported rate was 4.8%, much lower than the national rate which was 11.5% in the most recent year for which data are available.\u00a0 The university’s student\u00a0loan indebtedness reported by the federal government in its most recent release of “College Scorecard” showed median debt for 精品成人福利在线 University students who have taken loans of $22,999.\u00a0 It is important to note that indebtedness averages vary significantly depending on whether the student commuted or lived on-campus and on how long it took the students to complete their program. The percentage of former 精品成人福利在线 University students who are actively repaying their student loans (making payments of interest and principal) is 67%, much higher than the national average of 47%.<\/p>\n The Financial Aid Office continues to promote financial literacy education to students through a number of initiatives, and the university continues to explore services that would support financial literacy, student loan repayment, and the transition to loan repayment by graduating students.\u00a0 In addition, the student-run organization, Financial Literacy Leadership Program, is dedicated to providing financial literacy programming to their peers.\u00a0 This group operates with a staff adviser and they provide information to students on financial aid, insurance, credit scores, identity theft, real estate, investments, and contract and tenancies.\u00a0 There are ongoing efforts to grow this program and to seek partnerships from the business community.\u00a0<\/strong><\/p>\n 精品成人福利在线’s IPEDS six-year graduation rate for our 2011 full-time, first-time undergraduate cohort was 65.3%, which is significantly higher than the average for comparable institutions nationally.\u00a0 That is the second highest cohort graduation rate in the University\u2019s history.\u00a0 The IPEDS rate is based on the percent of an entering cohort who earn their degrees within six years at the institution they first entered.\u00a0 However, mobility among students is greater now than it has been in past decades, and nationally a number of students transfer from one four-year college to another for a variety of personal and educational reasons.\u00a0 The National Student Clearinghouse tracks these data, and they show that if one also includes members of the cohort who completed their degree at another four-year college within the six-year period, 精品成人福利在线’s six-year completion rate is 75.2%, considerably higher than the comparable rate of 61.3%\u00a0for national four-year public institutions.\u00a0<\/strong><\/p>\n In developing the operating budget for Fiscal Year 2019, 精品成人福利在线 University considers both its immediate resource needs and its long-term budget needs.\u00a0 The following priorities have been identified for next fiscal year and beyond:<\/p>\n New Jersey senior public institutions, including 精品成人福利在线 University, remain significantly underfunded.\u00a0 The proposed general appropriation budget for the senior public institutions is essentially being held flat in Fiscal Year 2019.\u00a0 Since Fiscal Year 2006, general appropriations for senior public institutions were reduced by $194 million, or 20 percent, while enrollment has grown by more than 34,000 students, or 22 percent.\u00a0 It is anticipated that enrollment will grow again in Fiscal Year 2019, and the consequence is a continuing and steady decline in state operating support per student in the senior public colleges and universities.\u00a0 In the proposed budget for the 2018-2019 academic year, operating support per FTE student at 精品成人福利在线 is expected to drop to $1,988, compared to $3,982 in Fiscal Year 2006, a decline of 50%.\u00a0\u00a0 Declining state support continues to create economic pressures for New Jersey\u2019s institutions and their students.<\/p>\n","protected":false},"excerpt":{"rendered":" General Background 精品成人福利在线 University has a century-long tradition of providing high-quality education to the citizens of New Jersey at affordable tuition and fee rates.\u00a0 As we prepare to set tuition rates for next Fiscal Year, the University will again be faced with limited state operating support for higher education. Historically, tuition and fee rates […]<\/p>\n","protected":false},"author":6,"featured_media":172,"parent":0,"menu_order":1,"comment_status":"closed","ping_status":"closed","template":"","meta":{"inline_featured_image":false,"footnotes":""},"class_list":["post-286","page","type-page","status-publish","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.montclair.edu\/board-of-trustees\/wp-json\/wp\/v2\/pages\/286","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.montclair.edu\/board-of-trustees\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.montclair.edu\/board-of-trustees\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.montclair.edu\/board-of-trustees\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.montclair.edu\/board-of-trustees\/wp-json\/wp\/v2\/comments?post=286"}],"version-history":[{"count":3,"href":"https:\/\/www.montclair.edu\/board-of-trustees\/wp-json\/wp\/v2\/pages\/286\/revisions"}],"predecessor-version":[{"id":1344,"href":"https:\/\/www.montclair.edu\/board-of-trustees\/wp-json\/wp\/v2\/pages\/286\/revisions\/1344"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.montclair.edu\/board-of-trustees\/wp-json\/wp\/v2\/media\/172"}],"wp:attachment":[{"href":"https:\/\/www.montclair.edu\/board-of-trustees\/wp-json\/wp\/v2\/media?parent=286"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Summary of Current Tuition and Fees<\/strong><\/h2>\n
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Student Financial Aid<\/strong><\/h2>\n
\nIn total, for Fiscal Year 2018, $77 million was distributed in grant and scholarship aid to 精品成人福利在线 University undergraduates in addition to $64 million in student loans and $7.5 million in campus employment.\u00a0 Grant funds come from four sources \u2013 Federal, State, university and Foundation \u2013 and awards are based on merit and\/or need. The breakdown of resources for undergraduate students is as follows:<\/p>\n\n
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Graduation Rates<\/strong><\/h2>\n
Priorities for Fiscal Year 2019<\/strong><\/h2>\n
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State Support<\/strong><\/h2>\n