New Jersey’s Stevens Institute of Technology recently announced the launch of the “Stevens Investment” program, which will exempt eligible students from tuition fees starting next year.
Located in Hoboken on the banks of the Hudson River, facing Manhattan in New York City, the institute is one of the most competitive educational institutions in New Jersey, renowned for fostering top engineering talents.
Over the years, the cost of attending Stevens Institute of Technology has been as high as $65,000 in tuition and fees alone, with additional expenses for housing, books, and meals pushing the total close to $90,000, daunting many bright students.
The school’s management recently stated that this situation is about to change. They are introducing a program that will allow students who may have previously considered the school out of reach to access quality education.
According to the “Stevens Investment Program,” if family income is below $75,000 per year and a new student is successfully admitted, tuition may be fully subsidized. The only precondition is that students maintain satisfactory academic performance and meet specific requirements. Once accepted into the program, as long as the student’s family income remains within the limit and maintains a GPA of 2.0 or above, they can continue to be exempt from paying tuition.
Although this tuition-free policy does not cover additional expenses such as housing or meals, the university encourages students to combine scholarships, grants, or federal aid to bridge the gap.
Stevens Institute of Technology stated that the program will be supported through donations, fundraising, and budget adjustments. The school emphasizes that this action reflects their long-standing mission: to open doors to academically excellent students, regardless of their economic circumstances.
This move signifies the latest trend in increasing accessibility to elite education in the United States. Over the years, prestigious institutions like Princeton, Yale, Cornell, and Carnegie Mellon have been striving to provide substantial assistance to high-achieving students from low-income families, with federal and state governments subsidizing part of the costs and the universities covering the remaining balance.