Princeton University announced Thursday that student whose families make less than $100,000 annually will receive free tuition, room, and board.
Under the new expanded program, Princeton will increase the annual miscellaneous expense from $3,500 to $4,050. The university said that the expanded allowance will, "provide more flexibility for student to cover course books and other miscellaneous expenses." Additionally, Princeton will make it possible for the students with the highest financial need to bring two guests to campus for first year move-in and for senior year Commencement.
Princeton also said that currently 62% of its undergraduate students receive financial aid, with the average aid package totaling $62,200.visually broke down the expected cost for families per year paired with their income. It shows families making $75,000 and $100,000 with an expected total cost of $0 and families making $150,000 with a cost of $12,500. The chart goes up to families who annually make $300,000, and the expected total tuition cost is $50,000—still significantly lower than the current cost of attendance without any financial aid.
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