Princeton U. will cover fees for students whose families earn less than $100,000


Princeton University announced this week that its new financial aid policy will include full cost coverage for students whose families earn up to $100,000 a year.

“Princeton will enhance its groundbreaking financial aid program, providing even more generous support for undergraduate students and their families as it strives to attract talented students from all backgrounds. Most families earning up to at $100,000 a year will pay nothing,” the school states on its website.

(Jeff Swensen/Getty Images)

princeton university

Princeton University (Patrick Nouhailler/Flickr)

The cost of attending Princeton for the 2022-23 academic year is estimated to be $79,540, broken down into $57,410 for tuition, $10,960 for room, $7,670 for board, and 3 $500 for estimated miscellaneous expenses.

Princeton’s new financial aid policy will go into effect for all undergraduate students beginning in the fall 2023 semester. In addition, students will receive an annual stipend of $4,050 for books and personal expenses.

The university added that it expects about 1,500 undergraduate students – more than 25% of the student body – to benefit from this change in financial aid policy.

Prior to this policy change, only students whose families earned less than $65,000 a year could pay nothing for tuition, room, and board.

“One of Princeton’s defining values ​​is our commitment to ensuring that talented students from all walks of life can not only afford an education at Princeton, but also thrive on our campus and in the world beyond,” said President Christopher L. Eisgruber.

“These enhancements to our aid programs, made possible by the continued generosity of our alumni and friends, will enhance students’ experiences while at Princeton and their choices and impact after graduation,” said added the president of the university.

The Dean of Admissions and Financial Aid, Karen Richardson, echoed those sentiments, saying, “President Eisgruber continues to underscore Princeton’s commitment to talented students across the country and around the world.

“Changes to our already generous financial aid policies will be an important part of the Office of Admissions’ work to recruit students from diverse socio-economic backgrounds, showing them that an education at Princeton is an affordable education. “, added Dean Richardson.

Princeton’s decision comes as the nation grapples with massive student loan debt and President Joe Biden threatens to implement a student loan bailout on the backs of US taxpayers.

You can follow Alana Mastrangelo on Facebook and Twitter at @ARmastrangeloand on Instagram.




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