NEW BRUNSWICK – The state will provide colleges with $ 400 million in grants to upgrade and build facilities next year, Governor Phil Murphy and other state officials said Tuesday.
Public and private colleges will be able to apply for funding for projects between January and March 2022, with details to be finalized later. The state plans to award grants at the end of 2022, pending legislative approval.
“To compete in the 21st century, students attending college need 21st century facilities,” said Eric Brophy, executive director of the New Jersey Educational Facilities Authority.
Murphy, at an event at Rutgers University, said the state needs to ensure campuses can compete at all levels.
“And that includes the price,” Murphy said. “Every dollar we provide at the state level is a dollar that doesn’t have to be added to a tuition bill. This is how we ensure not only stronger facilities, but more equitable costs for students and families. “
The money will come from four bond programs, which last allocated funds six or eight years ago:
- Higher Education Capital Improvement Fund (CIF): provides grants for the costs of renewal, renovation, improvement, expansion, construction and reconstruction of technological facilities and infrastructure
- Trust Fund for Higher Education Institutions (HEFT): provides grants for the construction, reconstruction, development, expansion and improvement of educational, laboratory, communication and research facilities
- Higher Education Equipment Rental Fund (FLE): provides grants to finance the purchase of equipment for rent to institutions
- Higher Education Technology Infrastructure Fund (HETI): Provides grants for the acquisition and installation of technological infrastructure within and between higher education institutions in New Jersey
“Adding these funds now is the right thing to do,” Murphy said. “Interest rates today remain at near historic levels, but the needs of our institutions remain at near historic levels. “
Michael Symons is the State House bureau chief for New Jersey 101.5. Contact him at email@example.com.
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