NJIT Increases Financial Aid Offerings With Garden State Guarantee

NJIT students can soon see their out-of-pocket costs reduced thanks to New Jersey’s Garden State Guarantee (GSG), which makes a college degree more accessible and affordable for New Jersey residents who attend in-state, public four-year institutions.

New Jersey’s GSG program, designed for third- and fourth-year undergraduate students, will provide up to four semesters of free tuition and fees. Under this program, state residents who have an adjusted gross income (AGI) between $0 and $65,000 are eligible for full coverage and will pay a net price of $0 in tuition and fees towards his or her first bachelor’s degree. Students with an AGI between $65,001 to $80,000 are also eligible, with tuition and fees to not exceed $7,500 out-of-pocket.

“NJIT is proud to partner with the State of New Jersey to increase access to higher education,” said Joel S. Bloom, president of NJIT. “Ensuring an affordable education is key to achieving our strategic goals of increasing the diversity on campus and in STEM industries.”

Students are automatically considered for the GSG when they complete the Free Application for Federal Student Aid (FAFSA) or, if they qualify as a NJ Dreamer, the NJ Alternative Financial Aid Application by April 15, 2022 for the 2022-2023 academic year. There is no separate application necessary.

Ensuring an affordable education is key to achieving our strategic goals of increasing the diversity on campus and in STEM industries.

The GSG was signed into law as part of New Jersey’s 2022 budget and is a major component of the campaign “65 by 25,” the state’s goal of ensuring 65% of working-age New Jerseyans will have a high-quality credential or degree by 2025.

At NJIT, close to 80% of all undergraduate students receive some form of financial aid, which totals $111 million. Reducing tuition and fees further increases the return on investment of a degree at NJIT, which ranks #1 nationally for the upward economic mobility of low-income students and is ranked 39th nationally by The Princeton Review for Best Value.

“NJIT ranks in the top 2% nationally for mid-career salary, and the average starting salary for undergraduates is over $65,000, 20% higher than the national average,” said Bloom. “The GSG is an excellent opportunity to help New Jersey’s lowest-income students earn a highly-desirable STEM education and enter into well-compensated industries.”

Funds are applied as a last-dollar award to cover a student’s remaining balance of tuition and fees after the application of federal and state student aid, institutional student aid and other outside scholarships. A fact sheet is available, and provides additional information and FAQs.

For more information on the GSG at NJIT, visit student financial aid services.