I would think NJ hotels (RI in Meadowlands or CY in Edgewater) would be better than going north. Just compare the local transportation options - it seems both have bus to the Port Authority Bus Terminal.

From there, take the subway to NYU.

Or, if you can get to Hoboken via NJ Transit, you can take the 33rd Street PATH train to 9th Street and walk to NYU (assuming Washington Square Campus).