The MCI Institute of NJ saw an 8.1% tuition hike for the 2022-23 school year, based on recent disclosures, according to the latest disclosure from the National Center for Education Statistics.
Students enrolled at the private, for-profit two-year institution paid $33,500 this year, up $2,500 from $31,000 in the 2021-22 academic year.
Approximately 88% of the undergraduate students at the school are residents of New Jersey.
Among full-time undergraduates who began studies at MCI Institute of NJ in 2022-23, 21% received some form of financial aid. Nine students were awarded grants or scholarships totaling $49,541, while eight students obtained loans exceeding $39,652.
Across all undergraduates, 100 students benefited from grants or scholarships amounting to $464,428. Additionally, 117 students secured federal student loans totaling $1.1 million.
Undergraduate education costs have seen a significant increase over the past few decades. Data shows a 169% rise in the average total cost, including tuition, fees, room, and board, between 1980 and 2020.
According to a 2023 College Board report, in-state students at public universities paid an average of $11,260, while out-of-state students paid $29,150 in the 2023-24 academic year.
Meanwhile, student loan debt has steadily increased over the last 30 years, reaching $1.75 trillion in 2024, averaging a total of $28,950 per borrower. Federal loans make up 92% of the debt, with over half of students at both public and private four-year colleges graduating with student loans.
Available data sometimes exceeds 100% due to rounding and administrative calculations.
The following data includes only full-time students who began an undergraduate program at the the MCI Institute of NJ in the 2022-23 school year.
| Type of Aid | Number of students awarded aid | Percent awarded aid | Total amount of aid awarded | Average amount of aid per student |
|---|---|---|---|---|
| Federal grants | 9 | 16% | $49,541 | $5,505 |
| State / local grant or scholarship | 0 | 0% | $0 | $0 |
| Institutional grants or scholarships | 0 | 0% | $0 | $0 |
| Grant or scholarship aid total | 9 | 16% | $49,541 | $5,505 |
| Federal student loans | 8 | 14% | $39,652 | $4,957 |
| Other student loans | 0 | 0% | $0 | $0 |
| Student loan aid | 8 | 14% | $39,652 | $4,957 |
| Total student aid | 12 | 21% | $89,193 | $7,432 |
Information in this story was obtained from the National Center for Education Statistics. The source data can be found here.
