The Presidential Hope Fund comes as the private university prepares to lay off up to 35 full-time faculty members by year's end and has already reduced salaries for most employees by 14%, effective December. The cuts follow Rider's placement on probation by the Middle States Commission on Higher Education due to financial instability.
University officials say the student emergency fund and the institution's broader financial challenges are separate matters.
President John R. Loyack has pledged $250,000 of his own money over three years—up from an initial $150,000 commitment. In a message posted to the university's website, Loyack said the fund aims to ensure no student is "left behind when they face a temporary setback."
"Whether it's support for books and class materials because a student lost their part-time job or assistance to pay an unexpected medical bill—the fund is meant to address a variety of circumstances and needs," Loyack wrote.
Students must first exhaust regular financial aid options through the university before applying for emergency assistance, according to university policy.
The fund's launch coincides with significant financial strain at Rider, which enrolls approximately 3,600 students and charges $43,515 in annual tuition and fees for 2025-26, not including room and board.
Some students are already feeling the impact of budget cuts. The university has discontinued a collaborative work scholarship program in place since 2003 and warned that some future athletic scholarships may be reduced.
In November, Loyack announced "urgent and severe choices" following the Middle States probation decision. The university's board of trustees finalized a restructuring plan November 30 that originally called for between 35 and 40 faculty terminations but was later revised to 30-35 due to retirements and vacant positions.
Of Rider's approximately 160 full-time faculty members, roughly one-fifth face potential job loss.
While most employees received the 14% salary reduction in December, "a small number of employees received a reduced salary cut to ensure that they still earned a living wage," the spokesperson said.
The faculty union's president told reporters in November that the administration's actions violated the school's labor contract and failed to provide adequate notice for layoffs. Union officials did not respond to requests for comment on the revised layoff numbers or the new student fund.
Rider remains accredited during its probationary period, and classes continue without interruption. Major universities rarely lose accreditation entirely, as the Middle States Commission typically provides institutions time to implement corrective measures.
The commission is scheduled to review Rider's accreditation status when it convenes in March.
