Princeton to cover all college bills for families making up to $100,000

[Loulit01]

https://www.washingtonpost.com/education/2022/09/08/princeton-student-tuition-financial-aid/

For six years, Princeton University has boasted that the average family making less than $65,000 a year pays nothing for an undergraduate student’s tuition, room and board. Financial aid grants cover the entire bill.

Now the Ivy League school, one of the world’s wealthiest and most exclusive universities, is extending that pledge to include most families earning up to $100,000. The new full-ride benchmark, announced Thursday, will take effect in fall 2023. More than a quarter of Princeton undergraduates are expected to qualify. The aid expansion will also benefit families over the threshold, including even many affluent ones with incomes of as much as $300,000.

For students who receive no financial aid, the estimated cost of attendance at Princeton this year is $79,540. That counts tuition, meals, housing and miscellaneous expenses. So the value of a full ride, over four years, is well over $300,000.

Such are the benefits — for the select few who can get in — of attending a university with an endowment valued last year at more than $37 billion. Huge recent investment returns on that money are supporting the new aid.


Princeton’s president, Christopher L. Eisgruber, said the initiative is meant to ensure that students “flourish on our campus,” taking full advantage of academic, research and internship opportunities. He said the university will also scrap a policy that students who receive financial aid are expected to contribute $3,500 a year for books and miscellaneous expenses. That is likely to reduce pressure to find well-paid summer jobs or part-time work during the school year.
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I like it. Go Princeton!

 

[mrjurrs]

https://www.washingtonpost.com/education/2022/09/08/princeton-student-tuition-financial-aid/

For six years, Princeton University has boasted that the average family making less than $65,000 a year pays nothing for an undergraduate student’s tuition, room and board. Financial aid grants cover the entire bill.

Now the Ivy League school, one of the world’s wealthiest and most exclusive universities, is extending that pledge to include most families earning up to $100,000. The new full-ride benchmark, announced Thursday, will take effect in fall 2023. More than a quarter of Princeton undergraduates are expected to qualify. The aid expansion will also benefit families over the threshold, including even many affluent ones with incomes of as much as $300,000.

For students who receive no financial aid, the estimated cost of attendance at Princeton this year is $79,540. That counts tuition, meals, housing and miscellaneous expenses. So the value of a full ride, over four years, is well over $300,000.

Such are the benefits — for the select few who can get in — of attending a university with an endowment valued last year at more than $37 billion. Huge recent investment returns on that money are supporting the new aid.


Princeton’s president, Christopher L. Eisgruber, said the initiative is meant to ensure that students “flourish on our campus,” taking full advantage of academic, research and internship opportunities. He said the university will also scrap a policy that students who receive financial aid are expected to contribute $3,500 a year for books and miscellaneous expenses. That is likely to reduce pressure to find well-paid summer jobs or part-time work during the school year.
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I like it. Go Princeton!

Princeton is an elite University, and they act like it. This type of program is a huge benefit for the university more than the students that benefit. It allows Princeton to create a broadly diverse student body.

 

[Callen]

Good move on Princetons part!!!

 

[Gateman_Wen]

https://www.washingtonpost.com/education/2022/09/08/princeton-student-tuition-financial-aid/

For six years, Princeton University has boasted that the average family making less than $65,000 a year pays nothing for an undergraduate student’s tuition, room and board. Financial aid grants cover the entire bill.

Now the Ivy League school, one of the world’s wealthiest and most exclusive universities, is extending that pledge to include most families earning up to $100,000. The new full-ride benchmark, announced Thursday, will take effect in fall 2023. More than a quarter of Princeton undergraduates are expected to qualify. The aid expansion will also benefit families over the threshold, including even many affluent ones with incomes of as much as $300,000.

For students who receive no financial aid, the estimated cost of attendance at Princeton this year is $79,540. That counts tuition, meals, housing and miscellaneous expenses. So the value of a full ride, over four years, is well over $300,000.

Such are the benefits — for the select few who can get in — of attending a university with an endowment valued last year at more than $37 billion. Huge recent investment returns on that money are supporting the new aid.


Princeton’s president, Christopher L. Eisgruber, said the initiative is meant to ensure that students “flourish on our campus,” taking full advantage of academic, research and internship opportunities. He said the university will also scrap a policy that students who receive financial aid are expected to contribute $3,500 a year for books and miscellaneous expenses. That is likely to reduce pressure to find well-paid summer jobs or part-time work during the school year.
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I like it. Go Princeton!

It's Princeton. How many of their students come from middle class or lower families?