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Thousands of Rutgers University students will benefit from a new financial aid program slashing out-of-pocket costs of tuition and fees for families with incomes below $100,000. 

The program, dubbed , will be available to first- and second-year students on the school鈥檚 New Brunswick campus beginning in the 2022-2023 school year. Rutgers officials expect 7,600 students 鈥� nearly 20% of enrolled undergraduates 鈥� to qualify for the program. 

The initiative is launching the same semester as Garden State Guarantee, a college affordability program signed into law by Gov. Phil Murphy aimed at helping third- and fourth-year students from low- and middle-income households.

If students from families with an adjusted gross income of $65,000 or less take advantage of both programs, full tuition and mandatory fees would be covered for four years.

For families with incomes between $65,001 and $80,000, the cost would be a maximum of $3,000 annually. The maximum cost would rise to $5,000 annually for families making between $80,001 and $100,000.

Students would still be responsible for meal plans, housing, textbooks, transportation, and other costs.

Scarlet Guarantee is expected to cost $24 million for the first year, with the state paying $10 million. It will be what鈥檚 known as a 鈥渓ast dollar鈥� program, meaning it will kick in on top of other scholarships and grants.

鈥淭he Scarlet Guarantee program will help qualified students from across New Jersey realize their hopes, dreams, and ambitions and will help Rutgers become an even richer and more diverse university,鈥� Rutgers President Jonathan Holloway said in a statement. 

The program is part of a nationwide movement to lower the skyrocketing cost of higher education. , which tracks trends in college pricing and student aid, reports the national average tuition at a public college stood at $10,740 for the 2021-2022 academic year.

According to the , the cost of college jumped 169% from 1980 to 2019.

For the  in-state tuition at Rutgers costs $12,536, while non-New Jersey residents pay more than $29,000. Room and board cost students another $13,400, and fees tack on an average of $3,268.

Tuition for 2022-2023 has not been set. 

A 2022 study by  found New Jersey is the fifth most expensive state for in-state college tuition, behind New Hampshire, Vermont, Pennsylvania, and Illinois.

Students don鈥檛 have to fill out any extra paperwork to be considered for Scarlet Guarantee. Anyone who completes the FAFSA or New Jersey Alternative Financial Aid Application for Dreamers 鈥� undocumented students protected under DACA 鈥� are automatically considered.

Students must be full-time, enrolled in at least 12 credits per semester working toward their first bachelor鈥檚 degree, and meet academic progress standards. Students in their fifth year and graduate students are not eligible.

Rutgers  and Rutgers  already have similar programs providing free tuition to some families who earn less than $65,000, and reduced tuition fees for students from households that earn less than $100,000. Other schools across the Garden State, including  and , have expanded their financial aid to help cut costs for low- and middle-income students. 

New Jersey is also home to the , which offers free tuition to 18 community colleges for undergraduates from homes with incomes of $65,000 or less.

is part of States Newsroom, a network of news bureaus supported by grants and a coalition of donors as a 501c(3) public charity. New Jersey Monitor maintains editorial independence. Contact Editor Terrence McDonald for questions: [email protected]. Follow New Jersey Monitor on and .

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