Princeton University will eliminate tuition for most students from U.S. households earning up to $250,000 a year starting this fall, marking one of the most generous financial aid expansions in the Ivy League.
The university also announced that families making $150,000 or less will have the total cost of attendance covered—tuition, housing, meals, books, and personal expenses—through grants, not loans. Students from households earning up to and in some cases beyond $350,000 will also qualify for aid, particularly if they have multiple children in college.
“Through our increased investment in financial aid, we are making the transformative experience of a Princeton education more affordable for more students than ever,” Provost Jennifer Rexford said in the announcement.
Princeton estimates that about two-thirds of its undergraduates will qualify for aid in the 2025–26 academic year, with the average package exceeding $80,000. For the incoming class of 2029, 69% of first-year students already receive some form of financial aid.
To support the expansion, Princeton will increase its undergraduate financial aid budget by roughly 16%, from $283 million last year to a projected $327 million. Endowment payouts designated for financial aid cover nearly 70% of that budget.
The policy shift follows similar moves by other elite universities, including Harvard University and the Massachusetts Institute of Technology, both of which have recently increased aid for middle-income families as the cost of higher education continues to climb. Colleges have also faced new financial and political pressures from the Trump administration, which has cut federal funding, imposed new taxes on endowments, and stepped up oversight of university operations.
Princeton’s announcement also included demographic details about the incoming first-year class. Asian American students now make up 27% of the Class of 2029, up from 24% last year. The share of students identifying as Black or African American dropped nearly four points to 5%, while Hispanic or Latino students account for 9.2% and multiracial students 7.7%, both similar to last year. International students make up about 14% of the class, representing 65 countries from Bolivia to South Korea.
The Class of 2029 includes 16.7% first-generation college students and 12.4% children of alumni. Students hail from 47 U.S. states, Washington, D.C., Guam, the Northern Mariana Islands, Puerto Rico, and the U.S. Virgin Islands.
By significantly widening eligibility for aid, Princeton is positioning itself as a leader in reducing financial barriers for a broader segment of middle- and upper-middle-income families—while other institutions face growing political challenges over how they allocate their resources.
