Rutgers Board approves $5.6 billion FY2025 budget and raises tuition, fees, housing and dining rates

Rutgers, The State University of New Jersey’s Board of Governors on July 8 approved a consolidated FY2024-25 expense budget of $5.6 billion and endorsed a set of student-charge increases that the administration said are intended to preserve core academic, research and health-care priorities while maintaining institutional aid.

The Committee on Finance and Facilities presented the budget to the Board. David Moore, vice president for financial planning and analysis and chief budget officer, told the Board the proposed budget anticipates an operating shortfall of $41.3 million for FY2025 — an improvement from the prior fiscal year — and reflects key revenue and cost drivers across Rutgers and its campuses. Moore described a recommended 4.0% tuition increase and a 4.0% increase in mandatory student fees for most undergraduate and graduate programs. For a typical in‑state undergraduate in the School of Arts and Sciences, the administration estimated the tuition increase would average about $274 per semester; mandatory fees were estimated at about $63 per semester for that example.

The Board, led by Vice Chair Tilak Lal in presenting the Committee’s endorsement, also approved proposals affecting residence life and dining: the administration recommended a 6.0% increase in housing, residence education and related charges and dining plan increases of up to 8.0% for Rutgers–New Brunswick and Rutgers–Newark plans and 11.0% for Rutgers–Camden contracted dining plans. Mr. J. Michael Gower, executive vice president and chief financial officer, highlighted the Board’s recent adoption of a financial strategy policy intended to guide the university toward a balanced budget over time.

Moore and the administration emphasized institutional student-aid efforts and participation in state and federal programs to reduce out-of-pocket costs; the presentation noted that roughly 75% of undergraduate students received some form of financial aid last year. The administration referenced the State of New Jersey’s Garden State Guarantee Program as a complement to Rutgers’ institutional aid initiatives.

The Board took a series of formal votes in open session after reconvening from a brief closed session. The specific resolutions approved were: the Proposed Resolution Approving Fiscal Year 2024-25 Budget (consolidated expense budget of $5.6 billion); the Proposed Resolution on Tuition for Fiscal Year 2024-25 (including the 4.0% increases for most in‑state undergraduates as shown on attached schedules); the Proposed Resolution on Changes in Mandatory Student Fees for Fiscal Year 2024-25 (noting larger fee increases in some RBHS programs); and the Proposed Resolution on Room and Board Rates and Residence Education Fees for Fiscal Year 2024-25 (housing and dining increases as summarized above). The Committee also moved and the Board approved a Consent Agenda containing an academic appointment with tenure and an administrative appointment with tenure. The transcript records each motion as seconded and approved without discussion. The transcript also records that Dr. Alan M. Crosta, Jr. recused himself from votes involving tuition, mandatory student fees and room and board rates.

Votes at a glance - FY2024-25 consolidated expense budget ($5.6 billion): approved in open session on the Committee’s recommendation. (Moved by Tilak Lal; transcript records motion, second and approval.) - Tuition rates for FY2024-25 (4.0% for most in‑state undergraduates): approved. (Moved by Tilak Lal; transcript records motion, second and approval; Dr. Crosta recused.) - Mandatory student fees for FY2024-25 (generally 4.0% increase; larger increases in some RBHS programs): approved. (Moved by Tilak Lal; transcript records motion, second and approval; Dr. Crosta recused.) - Room, board and residence education fees (housing +6.0%; dining up to +8.0% New Brunswick/Newark, +11.0% Camden contracted plans): approved. (Moved by Tilak Lal; transcript records motion, second and approval; Dr. Crosta recused.) - Consent Agenda (academic and administrative appointments with tenure): approved.

What this means for students and families The approved changes will take effect for Fall 2024 (the resolutions reference attached schedules). The administration framed the package as a balance between covering rising operating costs and preserving access through institutional and state programs; documents and rate schedules attached to the resolutions provide campus- and program‑level detail (for example, the proposed New Brunswick undergraduate tuition and fee schedules and lists of specific dining and housing plan rates). The Board’s packet and attachments, referenced in the public record, contain campus-specific tables and the full schedule of proposed rates.

Procedural and other notes The Board convened briefly in closed session earlier in the meeting to discuss personnel matters, including appointments with tenure and attorney-client privileged matters, and then resumed open session where the votes were taken. Kimberlee Pastva, secretary of the university, read the meeting’s public-notice statement under the Open Public Meetings Act and related public‑notice provisions referenced in the record.

The meeting was adjourned at approximately 12:15 p.m.