Next fall the threshold will increase from $65,000, among other financial aid changes
Princeton announced today that, starting next fall, undergraduates from most families that earn up to $100,000 annually will not have to pay for tuition or room and board at the University, and that families earning as much as $300,000 annually will also receive additional support.
Currently, only families that earn less than $65,000 receive full financial support for tuition and room and board. But next fall, according to a University announcement, about 1,500 undergraduates, or a quarter of the undergraduate student body, will receive this level of aid.Â
The expanded financial aid program will also add support for families making more than $100,000 per year, and in particular, families earning $150,000 or less and those with multiple children in college. The average contribution of a Class of 2026 family making between $140,000 and $160,000 is currently $23,675; under the revised methodology, families with an income of $150,000 would pay $12,500 next fall. Even families making $300,000 annually would see a decrease in expected contributions — from $65,500 this year to $50,000 next year. This academic year, the total cost of attendance for undergraduates is $79,540.Â
“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,” said President Eisgruber ’83.
Princeton also announced that it will eliminate the previously standard $3,500 annual student contribution so that students can more easily study abroad and pursue other activities. The annual personal and books allowance will also see a $550 increase next year, totaling $4,050.