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In an effort to promote access to higher education, Stevens Institute of Technology announced an ambitious new initiative Wednesday.

“The Stevens Investment,” which begins fall 2026, will offer free tuition for undergraduate students whose families earn $75,000 or less.

“At Stevens, we recognize that exceptional students come from all backgrounds and economic circumstances,” said President Nariman Farvardin. “Our role as an institution is to identify that potential and work to remove barriers that might prevent these talented individuals from accessing the transformative education Stevens provides.”

Key things to know about The Stevens Investment:

• Plan offers full tuition coverage to first-time, first-year, full-time undergraduate U.S. citizen or permanent resident students admitted to a degree program whose families make less than that $75,000 threshold
• Begins with the incoming fall 2026 class
• To qualify, students must complete both the Free Application for Federal Student Aid (FAFSA) and CSS Profile by the application deadlines, more details here

Stevens leaders say the program represents one element of a diverse portfolio of financial aid resources designed to support students. They note that the 2025 incoming class received over $38 million in institutional aid (including transfers), with nearly 99.9% of students receiving some form of institutional assistance.

Collectively, the Stevens undergraduate student population in the 2024-2025 academic year received more than $190 million in financial aid from internal and external resources.

The Hoboken-based institution also pointed to the competitive advantage its graduates receive – including ranking this past April as No. 9 in the nation for return on investment 40 years after enrollment, by U.S. News & World Report.

This program builds on those efforts as Stevens continues to invest heavily in student experience, specialization and more – all aimed at ensuring grads can remain nimble even when facing challenging markets.

“This program reflects our longstanding commitment to fostering the next generation of leaders and innovators, regardless of their family’s financial situation,” said Farvardin.

“The Stevens Investment represents years of strategic planning to ensure talented students can feel at home at Stevens,” said Cindy Chin, vice president for enrollment management. “We are thrilled to have arrived at this milestone – and to be able to be put a Stevens education within reach more students.”

More information on The Stevens Investment is available here.