Colleges across the state are feeling the effects of increasing financial pressure. Rutgers University’s athletics department in the 2025 fiscal year hit a $78 million shortfall, a debt that grown since the school joined the Big Ten conference in 2014. Financial documents, first reviewed by NJ.com, reveal a whopping $500 million deficit accrued by the athletic department in that time.
Rutgers has spent $1.35 billion on athletics since it was added to the conference, with more than $500 million of that for coaching staff. That includes head football coach Greg Schiano, whose salary is $6.5 million. Rutgers is also spending hundreds of millions of dollars on recruiting and scholarships, as well as on new facilities. Rutgers has struggled to reap the benefits of Big Ten, falling behind other schools in royalties, licensing and sponsorships.
Meanwhile, the private Rider University is trying to close a $21 million deficit by selling part of its Lawrenceville campus to Mercer County. The deal will include a 56-acre lot, the school president’s house and a facilities lease agreement. In total, that could bring in nearly $10 million for the university, which has about 4,000 undergraduate and graduate students.
Rider in December laid off 35 full-time staff and reduced most employee salaries by 14%. These changes came after the school in 2025 was placed on probation by its accrediting agency.
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