College Costs in Summit, NJ 2026
Compare tuition, housing, and financial aid across 2 colleges in Summit, New Jersey. Use our free calculator to estimate your total cost.
Avg Public Tuition
$16,200
per year
Avg Private Tuition
$40,000
per year
Avg Rent Near Campus
$1,302
per month
Colleges & Universities
2
institutions
Summit Overview
Population
22,060
Student Population
1,730 (7.8%)
Cost of Living Index
112.7 (avg: 100)
Walk Score
40/100
Transit Score
23/100
Unemployment Rate
4.8%
College Cost Calculator for Summit
Cost Inputs
Total Cost (4 Years, Public In-State)
$123,896
Total After Financial Aid
$123,896
Annual Cost
$30,974
Annual After Aid
$30,974
Cost Breakdown (4 Years)
If Financed (10-Year Loan at 6.5%)
| Loan Amount | $123,896 |
| Monthly Payment | $1,407 |
| Total Interest | $44,922 |
| Total Loan Cost | $168,818 |
Universities in Summit
| University | Type | Annual Tuition |
|---|---|---|
| Summit State University | Public | $16,156 |
| Summit Community College | Community | $6,136 |
Summit has 2 total colleges and universities. Tuition figures are approximate annual in-state rates for the 2025-2026 academic year.
Cost of Living in Summit vs. National Average
| Category | Summit | National Avg | Difference |
|---|---|---|---|
| Public Tuition (In-State) | $16,200 | $10,940 | +$5,260 |
| Monthly Rent Near Campus | $1,302 | $1,050 | +$252 |
| Cost of Living Index | 112.7 | 100 | +12.700000000000003 |
Summit's cost of living is above the national average. Students should budget accordingly and consider off-campus housing options to reduce expenses.
Student Life in Summit
Walk Score
Car-Dependent
Transit Score
Minimal Transit
Student Population
1,730 students
Summit has a total population of 22,060, with approximately 1,730 college students (7.8% of the population). While not primarily a college town, Summit offers students access to urban amenities, diverse employment opportunities, and a wide range of cultural experiences.
Post-Graduation Outlook in Summit
$48,680
Starting Salary
4.8%
Unemployment Rate
63%
Graduation Rate
~9 yrs
ROI Payback Period
Return on Investment Analysis
Graduates from colleges in Summit earn a median starting salary of $48,680, which is $13,680 more per year than the average high school graduate salary of $35,000. At a 4-year public university cost of $123,896 (including room and board), it would take approximately 9 years of the salary premium to recoup the investment. With average financial aid of $9,613 per student per year, the net cost and payback period can be significantly reduced.
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