SJBiz_CollegeEconomicImpact_0719v2FINAL_Layout 1 7 / 19 / 19 4 : 56 PM Page 2 N SOUTH JERSEY , the economic impact of the region’s colleges and universities is seemingly limitless . From job creation and innovation to providing local businesses with a skilled , qualified workforce , local universities like Rowan , Rutgers and Stockton , as well as the region’s community colleges , are all doing their Ipart to bolster South Jersey’s economy . According to Michael Sepanic , associate at Rowan University — meaning they could chancellor for external relations at Rutgers potentially earn a Rowan degree for as University – Camden , higher education is little as $ 30,000 . The program is also avail - a primary economic driver across the able at Rowan College of Burlington County United States — and the same is true in ( RCBC ) . South Jersey . Research universities like “ Student enrollment in the 3 + 1 program Rutgers – Camden bring millions of dollars is off the charts — it allows students to in federal research funds into the region keep more money in their pocket , and it each year ; these grants boost employment keeps them in Burlington County and con - and have a multiplier effect in terms of tinuing to contribute to our local economy . their impact on purchases made from These students can graduate with little to local vendors , he explains . no debt , immediately enter the workforce “ College graduates tend to get their without concern over student loan payments first jobs — and often permanently locate — and they’ll have the funds for housing or a near their alma maters , ” Sepanic adds . new vehicle , ” asserts Michael Cioce , pres - “ Thanks to Rutgers – Camden , Rowan , Stock - ident of RCBC . “ This partnership is paying USES ton and all of the county colleges , South off in spades because it’s a win - win - win for Jersey is fighting to reverse New Jersey’s everyone — the college benefits from the historic ‘ brain drain ’ by retaining these best third year revenue , the student benefits and brightest minds . ” from the third year savings and the economy In fact , some of South Jersey’s county benefits when those students remain in colleges recently took a major step forward the local area and reinvest those savings in the name of supporting local students back into work and play . ” and keeping them in the region . Earlier Rutgers University – Camden also im - this summer , Cumberland County College plemented its nationally recognized Bridg - and Rowan College of Gloucester County ing the Gap program , which reduces the furthered their commitment to providing cost of tuition for New Jersey’s working an affordable college education by merging families — sometimes all the way to 100 to create the Rowan College of South percent . In fall 2018 , more than 600 in - Jersey ( RCSJ ) . The merger is also creating coming students benefited from the pro - the lowest tuition cost of all two - and four - gram , which Sepanic explains closes the year schools in the state of New Jersey — gap between federal and state sources $ 152 per credit hour for students living in of financial support , and the balance of Cumberland and Gloucester counties . tuition and the general campus fee . “ It’s “ The joining of these two schools to critically important that South Jersey fam - create a regional , dual - use campus will ilies have every opportunity to achieve create an educational partnership that is their goals with a college degree , ” he the first of its kind in New Jersey . This will adds . “ Rutgers University – Camden is help make a higher education more af - committed to working across all of South fordable and more accessible to students Jersey to help make our region competitive and their families , ” says state Senate Pres - for business and attractive for families . ” ident Steve Sweeney . “ The students and Along with improved affordability , Dr . residents will benefit from increased aca - Frederick Keating , president of Rowan demic offerings and the opportunity for a College of South Jersey , notes that RCSJ seamless transition into Rowan University . will also help South Jersey become more The productive working relationship among attractive to businesses considering a the university community , businesses , trade move to New Jersey . “ We’re very optimistic associations , workers and employees will that this partnership will have a major im - deliver academic and economic benefits . pact on the local economy — we believe This is how the future of higher education we have the ingredients to give South should look . ” Jersey something it has never had before , ” Students of RCSJ can also choose to he says . “ Our goal is always to educate pursue Rowan University’s 3 + 1 program , South Jersey’s population and offer an which allows them to pay for three years of affordable education to local students … tuition at the county college and one year but we never forget that local industry  SouthJerseyBiz.net | VOLUME 9 ISSUE 7 | SOUTH JERSEY BIZ | 39