Princeton University will pay for students whose families earn less than $100,000

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

“As Princeton aims to attract talented students from all walks of life, it will expand its groundbreaking financial aid program by giving more open support to students and families. Most families who earn up to $100,000 a year pay nothing,” the school’s website says.

Tuition at Princeton for the academic year 2022-2023 is estimated at $79,540; of which $57,410 is for education, $10,960 for shelter, $7,670 for food and $3,500 for miscellaneous expenses.

Princeton’s new financial aid policy will go into effect for all students beginning the fall term of 2023. Students will also receive an annual allowance of $4,050 for textbooks and personal expenses.

The university added that it expects approximately 1,500 undergraduate students – more than 25 percent of academic staff – to benefit from this financial aid policy change.

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

“One of Princeton’s values ​​is our commitment to ensuring that talented students from all walks of life not only study at Princeton, but thrive on our campus and the rest of the world,” said President Christopher L. Eisgruber. .

“These improvements to our aid packages, made possible by the continued generosity of our alumni and friends, will enhance the student experience during their time at Princeton and their choices and influence after graduation,” the university president said.

Karen Richardson, Dean of Admissions and Financial Aid, echoed these sentiments, saying, “President Eisgruber continues to emphasize Princeton’s commitment to talented students from around the country and around the world.”

Dean Richardson added, “Changes to our generous financial aid policy will be an important part of the admissions committee’s work to recruit students from diverse socioeconomic backgrounds and show them that Princeton education is an affordable one.”

Princeton’s move comes as the nation grapples with huge student debts and President Joe Biden threatens to bail out student loans at the expense of American taxpayers.

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