Stevens Institute of Technology, located in Hoboken, New Jersey, is one of the leading private research universities in the United States. Known for its strong focus on engineering, science, and technology management, Stevens provides students with high-quality education and access to innovative research opportunities. However, attending such a prestigious institution comes with financial considerations. Understanding the cost of attending Stevens is essential for prospective students and their families to plan for tuition, fees, housing, and other related expenses.
Tuition Fees
The tuition at Stevens Institute of Technology varies depending on the program of study. For undergraduate students, the cost for the 2025–2026 academic year is approximately $60,600 per year. Graduate programs, which include master’s degrees and doctoral programs, have different tuition rates. For example, a typical graduate tuition rate is around $1,950 per credit hour, which means the total annual cost depends on the number of credits a student enrolls in. Some specialized programs, like those in business or engineering management, may have slightly higher rates due to program-specific resources and industry partnerships.
Additional Fees
Beyond tuition, students are required to pay various fees that cover student activities, technology resources, and other campus services. For the current academic year, these fees amount to roughly $1,500–$2,000 per year. These fees are mandatory and help maintain campus facilities, fund student organizations, and provide access to libraries, labs, and recreational centers.
Room and Board
Living on campus is a common choice for many students, especially undergraduates. Stevens Institute of Technology offers several housing options, ranging from traditional dormitories to apartment-style living. The cost of room and board averages $17,000–$18,000 per year, depending on the type of accommodation chosen and meal plan selected. Off-campus housing costs may vary based on the neighborhood and type of rental, but students should anticipate similar expenses if choosing to live independently.
Books and Supplies
Books and academic supplies are an additional consideration when calculating the total cost of attending Stevens. On average, students spend around $1,200–$1,500 per year on textbooks, software, lab materials, and other necessary supplies. Certain programs, such as engineering or computer science, may require specialized equipment or software licenses, increasing the total cost.
Transportation
Transportation costs vary significantly depending on a student’s location and lifestyle. For those commuting from nearby areas, public transportation costs can range from $1,000–$1,500 per year. Students who drive to campus may incur additional expenses for parking permits, fuel, and vehicle maintenance. Out-of-state students should also consider occasional travel expenses for trips home, which may add several hundred dollars annually.
Health Insurance
Stevens Institute of Technology requires all students to have health insurance. Students without coverage can enroll in the university’s health insurance plan, which costs approximately $3,000 per year. This fee covers medical services, hospitalization, and certain preventive care. Students with personal health insurance may waive this coverage but must provide proof of adequate insurance.
Total Estimated Cost
Taking into account tuition, fees, room and board, books, transportation, and health insurance, the total estimated cost of attending Stevens Institute of Technology for an undergraduate student is around $82,000–$85,000 per year. For graduate students, the total cost will vary based on the number of credit hours and program-specific requirements but typically falls within $50,000–$70,000 per year. These figures demonstrate that Stevens is a significant investment, and careful financial planning is essential for prospective students.
Financial Aid Options
Stevens Institute of Technology offers a variety of financial aid options to help students manage the cost of attendance. The university provides need-based aid, merit scholarships, and assistantships. Approximately 70% of undergraduate students receive some form of financial aid, which can significantly reduce the out-of-pocket cost.
Scholarships
Stevens offers merit-based scholarships for high-achieving students. These awards are generally based on academic performance, standardized test scores, and extracurricular achievements. Scholarship amounts vary but can range from $10,000 to full tuition coverage for outstanding candidates.
Grants
Need-based grants are also available to students who demonstrate financial need through the Free Application for Federal Student Aid (FAFSA). Grants do not require repayment, making them a highly valuable form of financial support. Common grants include the Federal Pell Grant and state-specific aid programs.
Work-Study Programs
Students who qualify for federal work-study programs can earn money by working part-time on campus. These positions allow students to gain professional experience while contributing to their educational expenses. Earnings typically range from $2,000–$3,000 per year, depending on the hours worked and the type of employment.
Loans
While grants and scholarships are ideal, many students rely on federal and private loans to cover the remaining cost. Stevens works with students to provide information about low-interest federal loans, including Direct Subsidized and Unsubsidized Loans. Private loans are also an option but usually come with higher interest rates and different repayment terms.
Cost Comparison
Comparing Stevens Institute of Technology to other private and public institutions can help prospective students understand its relative affordability. While Stevens’ total cost may seem high, it is in line with other top-tier private engineering and technology universities. Public universities typically have lower tuition for in-state students, but Stevens’ specialized programs, small class sizes, and access to industry networks provide added value that may justify the higher cost.
Return on Investment
Despite the high cost of attendance, Stevens Institute of Technology offers strong career outcomes. Graduates from Stevens often secure positions with leading technology companies, engineering firms, and financial institutions. According to recent employment reports, the average starting salary for Stevens graduates exceeds $80,000 per year, which can make the investment in education worthwhile over the long term. Additionally, the university’s strong alumni network and industry connections can provide a competitive edge in career advancement.
Cost-Saving Strategies
Prospective students can take several steps to reduce the financial burden of attending Stevens Institute of Technology:
- Apply for Scholarships Early: Many scholarships have early deadlines, and applying on time increases the likelihood of receiving aid.
- Consider On-Campus Employment: Work-study programs or part-time campus jobs can offset living expenses.
- Explore External Scholarships: Numerous organizations offer scholarships for STEM students, minority students, and those with unique talents.
- Live Off-Campus Wisely: Sharing an apartment or choosing more affordable housing options can lower living costs.
- Plan for Textbooks: Buying used textbooks, renting, or using digital versions can reduce annual costs.
International Students
International students at Stevens Institute of Technology face similar tuition and fee structures as domestic students, but additional expenses must be considered. Visa application costs, travel expenses, and potential currency exchange fluctuations can increase the overall financial commitment. International students should also ensure they have adequate health insurance coverage, as medical care in the U.S. can be expensive.
Graduate Program Costs
Graduate students at Stevens typically pay per credit hour, which can range from $1,950 to $2,100 per credit depending on the program. Full-time students taking 9–12 credits per semester may spend $35,000–$50,000 per year in tuition alone. Additional costs for fees, housing, and supplies should also be factored in. Some graduate programs offer assistantships, stipends, and tuition remission options that can significantly offset costs.
Online Programs
Stevens also offers online programs, which may provide a more cost-effective alternative for students unable to attend on-campus classes. Online tuition rates are generally comparable to on-campus rates per credit hour, but students can save on housing, transportation, and some campus fees. Online learners should budget for technology requirements such as reliable internet and a capable computer.
Conclusion
The cost of attending Stevens Institute of Technology is significant, reflecting the quality of education, resources, and opportunities available to students. With tuition, fees, room and board, and additional expenses, undergraduate students can expect to spend over $80,000 per year, while graduate students may face slightly lower costs depending on credit load and program. However, through scholarships, grants, work-study programs, and careful financial planning, students can make a Stevens education more affordable. The return on investment, both in career opportunities and earning potential, makes Stevens a competitive choice for students pursuing careers in engineering, technology, and business.
FAQs
Q1: What is the total cost of attending Stevens Institute of Technology per year?
The total estimated cost for an undergraduate student is approximately $82,000–$85,000 per year, including tuition, fees, room and board, books, transportation, and health insurance. Graduate program costs vary depending on credit hours and program.
Q2: Does Stevens offer financial aid?
Yes, Stevens provides need-based aid, merit scholarships, work-study programs, and grants to help students manage tuition and living expenses.
Q3: Are there scholarships available for international students?
Yes, Stevens offers merit-based scholarships and some need-based aid for international students. External scholarships and grants may also be available.
