Rutgers University is raising tuition and fees for undergraduates on its New Brunswick campus by 2.9 percent, a price hike of about $433 before adding in room and board, the university announced Tuesday.

The average in-state undergraduate student will pay about $15,407 for tuition and fees in the upcoming school year. Students living on campus will also pay about 2.9 percent more for housing and dining services in 2019-20, bringing the total bill for a typical first-year student to $28,482, about $801 more than last school year.

The latest tuition hike provides students no relief from the rising cost of college, which has far outpaced the rate of inflation and the growth of New Jersey’s median family income over the past two decades. But Rutgers officials said the increase is consistent with its peer universities, including those in the Big Ten Conference.

“The value that (students) are getting for the education they are getting here is well worth the price they pay,” said Kathy Dettloff, the university’s vice president of financial planning

Rutgers, like other major colleges, has tried to steer attention away from its sticker price because many students receive scholarships or state or federal grants that lower what families pay out of pocket. About 40 percent of students at the New Brunswick campus received grants last school year, and the average first-year student paid $16,295, Dettloff said.

“A great number of Rutgers students do not pay full price,” Dettloff told the board.

Tuition will also go up 2.9 percent for out-of-state students at the New Brunswick campus and for in-state undergraduates at Rutgers-Newark and Rutgers-Camden.

The new rates were approved as part of a $4.6 billion budget, up 4.2 percent from 2018-19.

Dettloff attributed much of the increase to rising salaries, which make up about 49 percent of the university’s budget, she said. Rutgers recently agreed to a new contract with its faculty union that includes three years of 3 percent raises and one year of 2.5 percent raises.

“We value our faculty and making sure they are compensated correctly and appropriately,” Dettloff said.

Adam Clark may be reached at adam_clark@njadvancemedia.com. Follow him on twitter at @realAdamClark. Find NJ.com on Facebook.

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