The University of Michigan, like the University of Miami last year, showed interest in Schiano to be its new head coach and replace Lloyd Carr who stepped down as Wolverines coach following the end of the regular season.
"I was contacted earlier this week about the Michigan coaching vacancy, but I have decided to remove my name from consideration," Coach Schiano said via a statement released by the Rutgers Athletic Office on Friday.
"I look forward to our third straight bowl game and to bringing a national championship to Rutgers and the state of New Jersey. I will have no further comment."
Schiano met with Michigan Athletic Director Bill Martin in New York this week to discuss the possibility of Schiano taking the Wolverine head coach position.
It is unclear as to how far the meeting went between Schiano and Martin, but it is clear that they did meet for some time and it is believed that the job was Schiano's if he wanted it.
When the questions began to arise at RU's weekly press conference, Schiano
quickly shot down any rumors about him going to any other school.
"I'm going to diffuse this here," Coach Schiano said. "I haven't spoken to anyone about any job, and that's where we're going to leave it. I am not going to speak about it anymore. Last year was one thing when we went through it.
"But this is a young football team that has an opportunity to do some great things, and I want the focus to be on them and where we are headed."
Last year, Schiano inked a four-year extension to stay at Rutgers through the 2016 season, which will pay him $1.7 million annually. Schiano decided to stay in New Jersey after turning down a contract offer from Miami that would have paid him $2.2 million dollars a year. He had ties to Miami after serving as the Hurricanes defensive coordinator for two seasons in 1999 and 2000.
"I wouldn't be here if I didn't believe that our university didn't want to be the very best," Schiano told the Associated Press earlier this year following his decision to stay at Rutgers over Miami. "There's a committed group of people who want to take the program to the very top. Certainly it's not a money issue, because if it was a money issue, I wouldn't be here. This is where I want to be."
Along with the base salary, Schiano received an interest-free $800,000 housing
loan that will be paid by Rutgers in $100,000 increments for every year that
he remains Scarlet Knights head coach.