Nariman Farvardin, President, Stevens Institute of Technology

In an interview with Invest:, Nariman Farvardin, president of Stevens Institute of Technology, discussed the recent milestones, innovative courses, and current challenges for higher education.

What have been the key milestones and achievements of Stevens Institute of Technology over the past 12 months?

Over the past twelve years, Stevens has been on a steep upward trajectory of growth and improvement in the quality of our operations. The past year has been a continuation of that progress. One notable achievement is the steady increase in the size and strength of our student body. In the fall of 2024, we recorded the largest undergraduate population in the university’s history—an impressive feat, especially considering that many universities are struggling to meet enrollment targets.

Additionally, our research programs have expanded significantly, and last year, we had the highest research expenditures in Stevens’ history. As our student body and research enterprise grow, so does our faculty. Last year, we also recorded our largest faculty count to date. In short, it has been a highly successful year in terms of student enrollment, faculty expansion, research investment, and overall institutional growth.

There are two specific developments I’m particularly proud of, and I think you’ll find them interesting. The first is the development of a core curriculum that all undergraduate students must complete before graduation. As part of a strategic plan initiated over two years ago, we revisited and revised our core curriculum, which has now been fully implemented.

What makes this core curriculum so innovative? First, it provides students with essential skills for success in a sophisticated, forward-looking education system—one designed to prepare them for the 21st century. Many universities emphasize soft skills such as collaboration, communication, writing, and public speaking, and we do as well. However, there are some unique components in our curriculum that set Stevens apart.

One of the most exciting additions is a first-year experience course that every incoming student must take, which is designed to ease their transition from high school to college life. It focuses on essential skills like time management, adapting to an independent learning environment, and developing survival strategies for academic and social success. The course is delivered in small groups of about 22 students each, which represents a significant commitment from the university.

The results have been remarkable. One key indicator of student success is the retention rate after the first semester, and ours was an astounding 99.1%. This is a clear testament to how well our support system and curriculum are working.

Another distinctive feature of our core curriculum is that every student, regardless of their major, is required to take a course in coding.

This requirement is not just for computer science or engineering students; it applies to everyone—biotechnology students, finance majors, accounting students, and even those studying music, social sciences, English, or philosophy. We want to ensure that all graduates are equipped with a fundamental understanding of coding, as it has become an essential skill in the modern world.

Another unique component is a brand-new course called Frontiers in Technology, which is also mandatory for all students. This course covers artificial intelligence, data science, quantum computing, biotechnology, and sustainability. We want every Stevens graduate to have at least an introductory understanding of these fields, which are shaping the future. 

How is Stevens working with other local industries in North Jersey to drive regional economic growth and innovation?

Stevens has a long history of working closely with local—and even national—industries. It’s part of our DNA. We are called Stevens Institute of Technology for a reason—technology is at our core, and we recognize that it is the key driver of human progress.

We have strong partnerships with companies across various sectors. For example, we have a particularly close relationship with PSE&G, the primary utilities company in New Jersey. Their chair, president, and CEO, Ralph LaRossa, is a Stevens alum, and we collaborate with PSE&G on research initiatives, particularly in environmental sustainability and alternative energy. Additionally, PSE&G’s chief technology officer serves on my President’s Leadership Council, further strengthening our connection.

Beyond that, we work with pharmaceutical giants such as Pfizer, Merck, Bristol Myers Squibb, and Johnson & Johnson. These partnerships vary in scope but are an essential part of our ongoing industry collaborations. Stevens graduates are highly sought after, and many of these companies actively recruit our students for internships, co-op programs, and full-time employment.

Beyond pharma and energy, Stevens is making significant strides in fintech through the New Jersey Fintech Accelerator at Stevens Institute of Technology (NJ FAST). Launched in May 2024 as the state’s fourth Strategic Innovation Center, this collaboration between Stevens, the NJEDA, Plug and Play, and Prudential Financial has already graduated its inaugural cohort of 14 innovative startups in January 2025. The accelerator leverages Stevens’ expertise in financial systems, AI, and cybersecurity while providing opportunities for students to gain hands-on experience with startups.

What are the biggest challenges the university is currently facing, and how do they relate to broader trends in higher education?

Higher education in the United States is facing significant challenges. One of the biggest is the “enrollment cliff.” Due to a sharp decline in birth rates starting around 2008-2009, we expect a corresponding drop in high school graduates around 2026-2027. Experts predict a 15% decrease in high school graduates, which will lead to a substantial decline in college enrollments nationwide.

Additionally, there has been a shift in students’ academic interests. More students are choosing career-oriented fields like computer science, business, engineering, and healthcare, while enrollment in traditional liberal arts programs is declining. For universities that rely heavily on liberal arts disciplines, this shift presents serious financial and structural challenges.

Another major issue is the rising cost of higher education. Many families struggle to afford tuition, and students are increasingly questioning whether college is worth the investment—especially if their degree does not lead to a stable job. Some major companies are even offering alternative credential programs that allow students to enter the workforce without a traditional four-year degree.

Despite these challenges, Stevens is in a strong position. Our focus on technology and career readiness gives us a competitive advantage. Our students graduate with in-demand skills, and our location—just two miles from one of the world’s most important economic centers—ensures excellent job opportunities. However, we remain vigilant about potential challenges, particularly changes in federal research funding and fluctuations in international student enrollment.

At Stevens, we constantly monitor industry trends, collect data, and make informed, strategic decisions to ensure we remain agile and competitive.