Stockton University will receive a record $42.18 million in state aid from the fiscal year 2024 budget approved by the Legislature and signed by Gov. Phil Murphy last week.
The funding is a 17.7 percent increase from 2023’s $35.8 million and a 129 percent increase over the amount Stockton received five years ago, $18.4 million.
“This additional funding will go a long way toward helping Stockton continue to fulfill its students-first mission of developing engaged and effective citizens,” said Stockton President Joe Bertolino. “It will allow us to mitigate the cost of higher education and provide more opportunities for first-generation and economically disadvantaged students.”
The funding includes $4.6 million for Stockton’s Atlantic City campus, $250,000 for the newly renamed Dr. Elizabeth Elmore Center for Economic Development and Financial Literacy and $1 million to support continuing planning for the future of the Atlantic City campus.
The budget also includes Stockton’s outcomes-based allocation of $7.9 million — a $5.1 million increase over last year positively reflecting upon the university’s initiatives to improve outcomes for underrepresented and economically disadvantaged students, among other criteria.
