Princeton Now Free for Students From Families Making Under $100K

• Princeton made the announcement last week as part of a sweeping overhaul of its financial aid program.
• The school will also provide additional aid for families earning more than $100,000, including those who have more than one child in college.
• The cost of attending Princeton for one academic year is around $80,000.

Next fall, students from families making less than $100,000 per year will not have to pay anything to attend Princeton University.

The Ivy League school made the announcement last week as part of a sweeping overhaul of its financial aid program.

In addition to providing free tuition and room and board for students of families making less than $100,000, Princeton said it will also provide additional aid for families earning up to $150,000, including those who have more than one child in college.

The university estimates that more than 25% of undergraduates – approximately 1,500 students – will receive aid covering full tuition, room, and board.

Additionally, the university will eliminate the annual student contribution and increase the personal and books annual allowance to give students more flexibility to cover the cost of attending college.

“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 the announcement.

The cost of attending Princeton for one academic year is around $80,000, including tuition, room, and board, according to the university's website.

Previously, Princeton did not charge families making $65,000 or less for tuition or room and board.