Princeton University is making changes to its financial aid program, which will take effect for all undergraduates starting Fall 2023.
Most families with annual incomes of less than $100,000 will not pay for tuition, room, and board, an improvement from the previous $65,000 standard. Many families with income above $100,000 will receive additional aid.
“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,” said Princeton president Dr. Christopher L. Eisgruber. “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.”
Princeton is also removing its previous $3,500 student contribution – typically earned through summer savings and campus work.
Additionally, the school is increasing students’ annual personal and books allowance used in financial aid packages from $3,500 to $4,050, and is making it possible for students with the highest financial need to bring two guests to campus for first year move-in and senior year Commencement.