One of the most prestigious Ivy League schools in the country is taking a big step to offer financial support to students from low-income families, as Princeton University has just announced its latest plans. It has just been confirmed that Princeton University plans to cover all college costs for students from families earning less than $100.00 a year.
@NYPost reports, unexpectedly and great expansion of its existing financial aid policies, Princeton University has just announced that all students from families earning less than $100.00 a year will have all college costs covered, meaning they will pay nothing for school tuition, lodging and food. The updated financial aid policies will officially go into effect for all undergraduates at Princeton University in the fall semester of 2023. University officials estimate that under the new policy, 1,500 students will receive financial aid. It should also be noted that 83% of recent Princeton students graduated with zero college debt.
Princeton University President Christopher L. Eisgruber released a statement about the inspiring changes at the school and how engagement with students is the top priority. “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. These enhancements to our aid packages, made possible by the continued generosity of our alumni and friends, will enhance students’ experiences while at Princeton and their choices and impact after graduation.”
In addition, students from families earning less than $150,000 a year will also benefit from additional financial support, specifically families at higher income levels who have multiple children currently in college.
Karen Richardson, Dean of Admission and Financial Aid at Princeton University, also spoke about the financial policy changes. “Changes to our already generous financial aid policies will be an important part of the Admissions Office’s work to recruit students from diverse socioeconomic backgrounds, showing them that a Princeton education is an affordable education,” she said.