Let's look at that .500 career Rutgers record in a relative sense.
The 8 schools that Rutgers has played most often in football are:
Lehigh (74 all-time games), Lafayette (72), Princeton (71), Stevens Tech (49), Columbia (49), NYU (43), Syracuse (43), and Colgate (42)
Outside of Syracuse, all those schools play minor-league football. Yet, despite them being Rutgers' most common historical opponents, Rutgers is still only 24 games over .500 despite playing 1312 career football games.
Seriously, look at this list of Rutgers all-time opponents. VERY VERY minor-league historic schedule. A legitimate school would have at least a .600 career win percentage vs. these folk.
FWIW, Penn State's career win percentage is at .687, and OUR most 8 frequently played schools are Pittsburgh (93 all-time games), Syracuse (71), WVU (59), Penn (47), Temple (43), Bucknell (40), Navy (39), and Maryland (38). Yes, an Ivy League and Patriot League team are there, but definitely more legit overall.
http://www.cfbdatawarehouse.com/data/active/r/rutgers/opponents.php
http://www.cfbdatawarehouse.com/data/active/p/penn_state/opponents.php