“will pay nothing for tuition, room, and board”
Good for Princeton for doing this on their own. Will other high-end, wealthy schools follow?
The New York Post reports:
Princeton University to cover college costs for students whose families earn less than 100K
Princeton University announced a major expansion of its financial aid policy for students from families earning less than $100,000 annually, meaning they will pay nothing for tuition, room, and board.
In addition, many students from families with income over $100,000 will also receive additional financial support, including families at higher income levels who have multiple children in college. The university noted that most of the additional scholarship funding will benefit families earning less than $150,000.
“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 in a press release Thursday. “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.”
The new financial aid policies will take effect for all undergraduates starting in fall 2023.
The university estimates that roughly 25% of undergraduates or 1,500 students are expected to receive the aid that will cover the entire cost of tuition, room, and board. The university’s website boasts that 83% of its recent seniors graduated debt free.
Donations tax deductible
to the full extent allowed by law.