Princeton University announces free tuition for families making under $100,000

New Jersey based university Princeton University announced this week that students whose parents earn less than $100,000 per year will no longer have to pay to attend their school.

Free schooling was previously only available to students whose parents earned less than $65,000 per year. Princeton confirmed this in a news release on Thursday.

“Most families earning up to $100,000 a year will pay nothing, and many families with income above $100,000 will receive additional aid, including those at higher income levels with multiple children in college. A majority of the additional scholarship funding will benefit families earning less than $150,000, and the University’s highest-need students will receive new and expanded forms of financial support.”

“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.

“These improvements to our aid packages, made possible by the sustained generosity of our alumni and friends, will enhance the experiences of students during their time at Princeton and their choices and impact after they graduate,” he added.

Princeton confirmed that the new changes will be rolled out in fall of 2023.

Princeton will also get rid of the annual student contribution, a portion of tuition and expenses that students had to pay with their own personal savings and any extra jobs they were able to pick-up on campus. Financial aid has also been increased for personal expenses and books.

Jill Dolan, who is the dean of the college at Princeton, touted the expansion as part of Princeton’s larger commitment to diversity.

In a statement, Dolan pointed specifically to “socioeconomic diversity,” arguing that the move to expand financial aid will allow “more students from across backgrounds to learn from one another’s life experiences.”

“We’re pleased to take these next steps to extend the reach and effect of Princeton’s financial aid,” Dolan said.