A Prestigious New Jersey College Just Announced Free Tuition

How many times has this happened to you or your child? You're dreaming about a top  New Jersey college. You check the tuition and your jaw drops. I'm talking about the kind of number that makes you think there has to be a mistake. Starting next year, a brand-new program will let some students attend one of Jersey's most expensive colleges for absolutely nothing.

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The Cost of a Dream Education in New Jersey

The annual price tag for attending Stevens Institute of Technology in Hoboken usually lands around $65,000 just for tuition and fees. Add housing, books, and meals, and the number climbs close to ninety grand. It’s the kind of cost that keeps a lot of smart kids from even applying.

Administrators at the school say that’s about to change. They’re rolling out an initiative designed to make education accessible to families who might otherwise cross the campus off their list.

Who Qualifies for the New Program

If your household earns $75,000 or less, and you’re accepted into the school as a first-year student, tuition may be covered entirely. No strings other than keeping your grades up and meeting specific requirements.

Once accepted into the program, students can continue attending tuition-free as long as their family’s income stays within the limit and they maintain at least a 2.0 GPA. The free ride doesn’t include extras like housing or meal plans, but the school encourages students to combine this offer with grants, scholarships, or federal aid to help fill in the gaps.

This is a new trend to make "elite" education more accessible. Princeton, Yale, Cornell, and Carnegie Mellon all offer significant aid for lower-income families, often using what’s called a “last-dollar” system. This means federal and state grants cover part of the cost, and the school fills in what’s left.

READ MORE: These Are NJ's Top High Schools 

Where Does this Funding Come From?

Stevens Institute says its version of aid will be supported through donations, fundraising, and budget revisions. They say this effort reflects their long-term mission to open doors for talented students regardless of financial background.

Stevens Institute of Technology is one of New Jersey’s most competitive schools. It's known for turning out some of the brightest minds in engineering. Starting next year,  "The Stevens Investment" will allow qualifying students to see their tuition disappear. This is a powerful step to level the playing field, ensuring that talent, not money, determines who gets to walk through those campus gates.