Princeton University is expanding its financial aid program, with a plan to waive tuition and room and board fees for most undergraduate students with family incomes not exceeding $150,000 starting from the upcoming fall semester of 2029. Students from families with incomes not exceeding $25,000 will have tuition fees waived, while those from families with incomes not exceeding $35,000 will receive financial aid, including children from high-income families with college-bound students.
In a press release, Princeton University stated that this initiative is part of a plan to increase overall undergraduate financial aid spending by approximately 16% to $327 million for the 2025-26 academic year.
“By increasing our investment in financial aid, we are making it more affordable for more students than ever before to access the transformative educational experience at Princeton University,” said Jennifer Rexford, the provost of Princeton University, in a press release on August 7.
As of July 29, out of 1,409 incoming freshmen, 69% met the criteria for financial aid. According to Princeton University’s announcement, the donation funds for financial aid nearly cover 70% of the undergraduate financial aid budget.
While all Ivy League schools provide full tuition for students from low-income families, each institution has different income thresholds. Cornell University’s threshold is $75,000. Harvard University expanded its financial aid policy in March, offering free financial aid to students with family incomes under $100,000 and free tuition for those under $200,000. With the recent adjustments, Princeton University’s financial aid policy has become the most generous among the Ivy League schools.
As part of the financial aid announcement, Princeton University also released the racial composition of its incoming freshmen. Following the Supreme Court’s ban on affirmative action in higher education, the Trump administration stated that schools would no longer consider race as a factor in the admissions process.
The percentage of self-identified Black or African American freshmen decreased from 8.9% in the class of 2028 to 5%. The percentage of self-identified White freshmen declined from 31.3% to 28.5%. Meanwhile, the percentage of self-identified Asian American students increased from 23.8% to 27.1%.
The proportion of international students among incoming freshmen increased from 12.1% to 14.1%, representing 65 countries around the world.