Official Site of The State of New Jersey
A Working Partnership
NJEFA works in partnership with the Office of the Secretary of Higher Education and the Department of Treasury in administering New Jersey's Higher Education Capital Grant Programs.
Higher Education Capital Grant Programs
Capital Improvement Fund (CIF):
Program Overview:
The Capital Improvement Fund (CIF) provides grants for the cost of renewal, renovation, improvement, expansion, construction and reconstruction of facilities and technology infrastructure
Eligible institutions:
Four‐year public and private nonprofit institutions that are eligible to receive state aid; county colleges are not eligible
Maximum authorized:
$550 million
Institutional costs:
Public institutions pay 1/3 debt service
Private institutions pay 1/2 debt service
Grant Programs Overview:
5 Grant Programs
211 Projects Approved
$1.4 Billion in Grant Funds Awarded
Higher Education Facilities Trust Fund (HEFT):
Program Overview:
The Higher Education Facilities Trust Fund (HEFT) provides grants for the construction, reconstruction, development, extension and improvement of instructional, laboratory, communication, and research facilities
Eligible institutions:
Public and private nonprofit institutions that are eligible to receive state aid
Maximum authorized:
$220 million
Institutional costs:
None
Equipment Leasing Fund (ELF):
Program Overview:
The Equipment Leasing Fund provides grants to finance the purchase of equipment for lease to institutions.
Eligible institutions:
Public and private nonprofit institutions that are eligible to receive state aid
Maximum authorized:
$100 million
Institutional costs:
Institutions pay 25% of debt service on bonds
Higher Education Technology Infrastructure Fund (HETI):
Program Overview:
The Higher Education Technology Infrastructure Fund (HETI) provides grants for the acquisition and installation of technology infrastructure within and among New Jersey’s institutions of higher education.
Eligible institutions:
Public and private nonprofit institutions that are eligible to receive state aid
Maximum authorized:
$55 million
Institutional costs:
Institutions must provide a match at least equal to the
amount of the grant.
Building Our Future Bond Act (GO):
Program Overview:
The “Building Our Future Bond Act,” authorized issuances of $750 million in general obligation bonds by the State to fund grants for higher education capital projects. NJEFA assists the State in administering grants under this program pursuant to a Memorandum of Understanding with the Secretary of Higher Education
Eligible institutions:
All four-year public institutions of higher education, all county colleges and private nonprofit institutions of higher education authorized to grant degrees, organized under the New Jersey nonprofit corporation law and having an endowment valued at less than $1 billion
Maximum authorized: $750 million
Institutional costs:
Institutions must provide a match of 25% of the project cost.
