New Jersey budget cuts funding for Stockton University and student assistance programs

The New Jersey Senate Budget and Appropriations Committee met on May 1, 2025, to discuss significant budgetary concerns affecting higher education and economic development in the state. A key topic of discussion was the proposed elimination of funding for an economic development center at Stockton University, which has been pivotal in revitalizing Atlantic City. Committee members expressed strong support for reinstating this funding, emphasizing the importance of Stockton's role in the region's recovery.

Senators highlighted that the funding cut comes at a time when Atlantic City is facing economic challenges, and they argued that the investment in Stockton is crucial not only for the university but for the broader South Jersey community. The discussions underscored the need for continued support for state institutions of higher education, with concerns that reduced funding could lead to higher tuition costs and a decline in student enrollment.

Additionally, the proposed fiscal year 2026 budget includes significant cuts to student assistance programs, totaling over $60 million, alongside nearly $200 million in cuts to institutions. This has raised alarms about the potential impact on student enrollment and the overall accessibility of higher education in New Jersey.

The committee acknowledged the importance of maintaining support for students from families with incomes up to $65,000, ensuring they can continue to attend county colleges without out-of-pocket tuition costs. However, the proposed changes to eligibility criteria for assistance programs have raised concerns among lawmakers about the long-term implications for students.

As the committee continues to deliberate on the budget, the discussions reflect a broader commitment to supporting education and economic development in New Jersey, with a focus on retaining talent within the state. The outcome of these budget decisions will be critical for the future of higher education and economic growth in the region.