Princeton Increasing Financial Aid But Not The Students Who Most Need It

Ivy League financial aid is a bit like running a nightclub where the drinks are free for everyone who gets in, but the bouncers only let in five of every 100 people lined up down the block hoping to have a good time.

Princeton has announced changes to its financial aid policies that will benefit the small number of students who can get into the highly rejective institution. According to the university, the changes mean that students from families earning up to $100,000 per year will pay nothing out of pocket for tuition, room, and meals. Families earning up to $150,000 per year are likely to receive more financial aid than they did previously. The new policy will go into effect for students applying this year to start in the fall of 2023.

Under its old financial aid policy, families with annual incomes under $65,000 could expect to pay nothing out of pocket. Moving the income threshold up by $35,000 represents a significant jump in the number of students at Princeton who will receive more financial aid and not have to take out student loans.

The changes will also increase the amount students are given to pay for books and personal expenses from $3,500 to $4,050. The changes will help students with the most financial need cover the cost of bringing two guests with them to campus for move in as first years and commencement as seniors.

Read the full article here