Princeton University in the state of New Jersey in the United States announced this week that families who earn less than $100,000 annually will no longer have to pay to let their children go to Princeton. Princeton is one of the most prestigious universities in the world and is known for its high academic standard and low admission rates.
By providing financial support to lower-income families, Princeton hopes to enhance the “socio-economic diversity” of students. Previously, the costs of tuition and room and board were already fully covered for families earning less than $65,000 (€64,015) per year. With the extension of aid, more than 25 percent of Princeton students will now be able to benefit from that financial aid.
A family normally pays $80,000 for a year at Princeton University. Families earning up to USD 150,000 (EUR 147,728) per year will also be able to count on some financial support.
“One of Princeton’s defining values is our commitment to ensuring that talented students from all backgrounds can not only afford an education at Princeton, but also thrive on our campus and in the world beyond”? Princeton president Christopher L. Eisgruber said in a press release.
Students starting Princeton in the fall of 2023 will be the first to take advantage of the new and improved financial aid scheme.
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