Stockton University may have to consider cutting staff and programs as it grapples with enrollment declines and reduced state aid, campus officials said.
The university’s board of trustees voted Tuesday to adopt a $302.4 million budget for fiscal year 2027. The budget is down from $311.8 million last year.
The public university will draw on $24.6 million in reserve funds to help cover this year’s budget because the school is not bringing in enough revenue to cover its costs, according to the budget.
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“The university will continue to examine ways to reduce costs and increase revenue throughout the fiscal year,” a Stockton spokesperson said in an emailed statement.
Students entering the 2026–27 academic year will see a 3% increase in tuition and fees. Full-time, in-state students will pay $17,256 annually in tuition and fees, while out-of-state students will pay $26,016 before room, board and other costs are added to the bill.
Stockton also enters the upcoming academic year with less state aid.
Under the fiscal 2027 state budget signed by Gov. Mikie Sherrill, Stockton will receive $41.8 million in state aid, down from $44.4 million the previous year. The reduction includes a cut in funding earmarked for Stockton’s Atlantic City campus, which opened in 2018. Its funding was reduced from $4.6 million to $2.6 million.
Jennifer Potter, the school’s chief financial officer, said administrators will prioritize spending on the most pressing student needs, according to the university’s budget statement.
“The decisions ahead will be difficult,” Potter said. “Rightsizing the university will require careful analysis, candid conversations, and, in some cases, choices that affect programs, services, staffing, and operations.”
About 8,300 students enrolled in fall 2025, compared with 9,500 in fall 2019, according to university data.
Staffing remains Stockton’s largest expense, making up 61% of the annual budget, according to a university report to New Jersey lawmakers. The university anticipates a 5% increase in workforce costs, the report states.
“This budget is more than a financial plan for the next fiscal year,” Potter said. “It is a statement of the choices required to position the university for the future, and a tool for advancing Stockton’s strategic plan.”
In May, Stockton started a series of voluntary buyouts for faculty who were members of the American Federation of Teachers union and for some managers.
The university also began offering buyouts to members of the Communications Workers of America, the International Federation of Professional and Technical Engineers and nonunion managers.
The university has not said how many employees were offered buyouts. Representatives from both unions did not immediately respond to a request for comment.
Stockton’s board approved the budget as other New Jersey universities also moved to cut costs.
Monmouth University announced it had begun offering buyouts to nonunion faculty and staff — giving employees a “voluntary separation” option as the private college works to stabilize its finances.
New Jersey Institute of Technology also announced that it was cutting the number of credits students could take per semester and raising tuition by 6%.