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������ý���� President Gregory G. Dell’Omo, Ph.D., was invited to provide testimony at the New Jersey Legislature’s Special Meeting on Higher Education on March 16. Dell’Omo joined other college and university presidents and representatives to discuss their institutions’ financial stability. 

Dell’Omo noted the various challenges that colleges and universities are facing, particularly private, non-profit institutions. 

“Institutions like ������ý���� are grappling with issues related to affordability, enrollment, competition, shrinking state and federal funding, student success and retention, the looming drop in the number of high school graduates, and the growing skepticism among certain parts of our society as to the value of a college education,” he says. 

The pandemic only exacerbated these challenges for all institutions of higher education. Soon, colleges and universities will face another obstacle: The number of high school graduates nationwide will decrease for a period of about seven years beginning in 2026, says New Jersey Secretary of Higher Education Brian Bridges, Ph.D.

“We know that we are at, quite honestly, a transition point and inflection point when it comes to our higher education institutions,” says state Sen. Andrew Zwicker. 

Growing enrollment and revenue are top priorities for the University, Dell’Omo says. ������ý���� has seen a 16% decline in net tuition, fees and auxiliary revenue, since the pandemic, which equates to a $20.3 million loss to the University’s bottom line. Dell’Omo showcased the variety of ways ������ý���� has strategically tried to combat these challenges — even before the unexpected impacts of the pandemic — including ������ý����’s strategic plan, Our Path Forward, academic prioritization, early retirement incentives and fundraising efforts, among other actions. 

He also emphasized ������ý����’s commitment to affordability, a matter that private institutions still struggle with in comparison to their public counterparts. 

“For many students, a ������ý���� education is just as affordable, if not more so, than at a public institution in New Jersey,” he says. “You may be surprised to know that ������ý����’s increase in net tuition and fees, when you factor in increased scholarships and financial aid, continues to be very modest year-over-year, even below the rate of inflation.” 

Dell’Omo cited ������ý����’s Engaged Learning Program, Lifting Barriers initiative and Cranberry Investment program as ways the University continues to address affordability and ensure students are successful beyond their time at ������ý����. 

“We believe so much in our institution’s ability to educate exceptional future leaders that we’re willing to invest in the resources they need to succeed,” he says. 

Despite much progress to address the industry’s financial challenges, New Jersey’s colleges and universities need more time and support, Dell’Omo told legislators. 

“The entire industry is faced with these hurdles, and we must work together to change the paradigm as these problems are simply not just going to go away,” he says. 

Read President Dell’Omo’s full testimony here.