Princeton U. Will Pay Tuition, Other Costs For Families Making $100K

PRINCETON, NJ — Princeton University announced Thursday that families making up to $100,000 will pay nothing in tuition, housing and other costs come fall 2023.

The University announced the expansion of its financial aid program, adding that it was eliminating the student aid contribution requirement of financial aid packages.

Previously families making $65,000 were eligible for this aid, but with the new expansion more than a quarter of Princeton’s undergraduates are expected to qualify and attend the University for free.

The aid expansion will also benefit families who make more than $100,000, “including those at higher income levels with multiple children in college,” the University said.

“One of Princeton’s defining values is our commitment to ensure that talented students from all backgrounds can not only afford a Princeton education but can flourish on our campus and in the world beyond it,” President Christopher L. Eisgruber said in a statement.

“These improvements to our aid packages, made possible by the sustained generosity of our alumni and friends, will enhance the experiences of students during their time at Princeton and their choices and impact after they graduate.”

According to the breakdown provided by the University, families making between $150,000 and $300,000 will receive between $11,000 and $15,000 more in aid.

The student contribution, which was earlier set at $3,500, has also been eliminated. This will provide students with opportunities to study abroad and to pursue other curricular and co-curricular activities during the summer and academic year, the University said.

Starting in fall 2023, the University will increase financial support to $4,050 giving students more flexibility "to cover course books and other miscellaneous expenses.”

The expansion will make it possible for students with the highest financial need to bring two guests (typically family members) to campus for first year move-in and senior year commencement, the University said.

“Princeton’s historic support for lower-income students has made our distinguished liberal arts education available to a broad range of students from around the world,” Dean of the College Jill Dolan said.

“We’re pleased to take these next steps to extend the reach and effect of Princeton’s financial aid.”

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