Princeton University to cover all college costs for students from families earning less than $100K
The cost of tuition continues to rise and college. Many colleges are searching for ways to help students that are qualified but don’t have the necessary funds to pay for it to attend. Fox News reports that Princeton University is embarking on 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.
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.