💲 Princeton University is offering free tuition to families who qualify
💲 More than 25% of the student body should qualify for free tuition
💲 Princeton is committed to attracting students from all backgrounds
PRINCETON — As families across the income spectrum struggle with rising college costs, Princeton University wants to offer free tuition. Do you qualify?
New Jersey's private Ivy League research university wants to enhance its financial aid program by giving more tuition breaks for its undergraduates and their families, as it works to attract talented students from all backgrounds.
Income limits to qualify for Princeton tuition
That means most families earning up to $100,000 a year will pay nothing for tuition, room and board. That is up from the previous $65,000 annual income level. Roughly 1,500 Princeton undergrads are expected to receive this level of aid, which is more than 25% of the student body.
Many families with income above $100,000 will receive additional financial aid, and a majority of the additional scholarship funding will benefit families earning less than $150,000, according to the university.
Tuition at Princeton typically costs more than $83,000 per year, according to News 12 New Jersey.
Princeton’s highest-need students will receive new and expanded forms of financial support.
Princeton's history of financial aid
In 2001, Princeton was the first university in the country to eliminate loans from its financial aid package. Since then, more than 10,000 undergrads benefitted from the school’s aid program.
“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.
The new financial aid policies took effect for all undergraduate students in the fall of 2023.
Other ways Princeton saves students money
Also included in the policy is the elimination of the $3,500 student contribution typically earned through summer savings and campus work. This will provide more opportunities for students to study abroad and to pursue other curricular and co-curricular activities during the summer and academic year.
Princeton will also increase the annual personal and books allowance used in financial aid packages from $3,500 to $4,050 to provide more flexibility for students to cover course materials.
Additionally, Princeton will make it possible for the students with the highest financial need to bring two guests to campus for first-year move-in and for senior-year commencement.