Princeton University announced that students with a household income of less than $100,000 a year will not have to pay for tuition or room and board starting in 2023. Students can also get an annual personal and book allowance of up to $4,050 per school year.
Most families earning up to $100,000 a year will pay nothing for classes at Princeston University starting in 2023Princeton University will expand its financial program by offering free tuition to qualifying students.Families earning above $100,000 will still qualify for aid, with most of the additional scholarships going to families making less than $150,000 and families with multiple children in college.Previously, the annual income level was capped at $65,000 a year for families.
"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 Eisgruber said. "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.
Under the new policies, families making less than $100,000 will pay nothing for tuition or room and board. More than 25% of the student body is expected to receive this level of aid.