The university’s financial aid expansion will also help out families earning up to $150,000, according to the news release.
“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,” Christopher L. Eisgruber, Princeton’s president said in the release.
“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.”
The university also eliminated the annual student contribution — a portion of tuition and expenses that students were expected to pay with their own savings and on-campus work — and increased the financial aid allowance for personal expenses and books.
Jill Dolan, dean of the college at Princeton, framed 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.”