Institutional Rates
Institutional Rates
Institutional Rates
- Institutional Data Sheet
- Fringe
- F&A (overhead/indirect)
- Tuition
- Course Buyout
- Human Subjects Incentives and Other Gift Card Purchases
- Hourly employee rates
- Calculating Person-Months
- Rowan Audited Financial Statements
- Rowan University Board of Trustees
Fringe Rate Agreement, State of New Jersey - FY24
Glassboro/Camden/CMSRU/Stratford:
- 32% Full-time grant-funded faculty; departmental salary reimbursement
- 7.65% Course release
- 0.95% Faculty & staff salary voucher; faculty summer salary; current part-time/hourly staff
*This rate is added to the 7.65% FICA rate to form a total of 8.6%
*0.95% is only applicable to pensionable compensation
- 0% Student Workers
F&A Rate Agreement - FY24-27 (current - DHHS)
Glassboro/Camden/SJTP Campuses
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SOM and CMSRU Campuses
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Tuition Rates
Undergraduate, graduate, and Rowan Global tuition rates can be found on the Bursar's website
Course Buyout
Course release, or “Course Buy-Out,” is charged at 12.5% (proportionate to three teaching credits) of the faculty member’s IBS and must include associated FICA benefits and university overhead. Faculty are required to teach a minimum of one course per semester.
Example: Dr. Jones makes $100K for teaching 4 courses per semester (24 credits per year). She is requesting a 3-credit release ONLY in fall (3 credits total), therefore her per-credit release rate is $100,000/24 = $4,166. To budget for a 3-credit release, she will multiply her per-credit rate by the 3; her total salary release cost is $12,498, or approximately 1/8 of salary. In addition, she will need to add 7.65% FICA, making her total request $13,454.
Human Subjects Incentives and Other Gift Card Purchases
Per Rowan University’s gift card policy, budget fees for gift cards used for human subject incentives, including prizes and awards, as follows:
Fee per physical card: $3.95 (Virtual cards only cost $1.50)
Reload fee: $1.75
In the example shown below, it will cost $151 to issue ten $10 gift cards:
| 10 Cards: | Total | ||
| Card Fee: | $3.95 | x10 | $39.50 |
| Load Fee: | $1.75 | x10 | $17.50 |
| Card Amount: | $10.00 | x10 | $100.00 |
| Total: | $157.00 |
Additional funds can be added to existing cards at any time. When additional funds or milestone payments are made (multiple payments on one gift card), relevant Load Fees need to be budgeted. This example shows ten gift cards that will each be loaded with three separate $10 payments:
| 10 Cards with 3 Loads: | Total | ||
| Card Fee: | $3.95 | x10 | $39.50 |
| Load Fee, 3 loads each on 10 cards: | $1.75 | x30 | 52.50 |
| Card Amount: | $10.00 | x30 | $300.00 |
| Total for 10 cards: | $392.00 |
Purchases of gift cards are subject to indirect costs on grant applications when allowed by the funding agency. More information will be forthcoming from Accounts Purchasing/Accounting, including the gift portal website and training material. Direct questions about the gift card purchasing policy and process to giftcards@rowan.edu.
Hourly Employee Rates
Hourly employee rates are available on Rowan University's Human Resources website.
Calculating Person-Months
What is a person-month and how do I calculate it?
A “person month” is the metric for expressing the effort (amount of time) principal investigators (PIs), faculty and other senior personnel devote to a specific project. The effort is based on the type of appointment of the individual with the organization; e.g., calendar year (CY), academic year (AY), and/or summer term (SM); and the organization’s definition of such. For instance, some institutions define the academic year as a 9-month appointment while others define it as a 10-month appointment.
For more details and examples of how to calculate person-months, see NIH guidance. A percent-to-person-month calculator is also on the final tab of Rowan's budget template.