PrincetonUniversityA P R I N C E T O N P R O F I L E 1 9 9 8 - 9 9
Costs and Financial Aid
Here is what it costs for an undergraduate to study at Princeton in 1998-99:
Comprehensive fee (tuition and other fees) $23,820 Room 3,077 Board 3,634 Miscellaneous expenses (books, supplies, etc.) 2,509 Total $33,040Students applying for financial aid help pay for their education by working in the summer and during the school year (contributing an average of $4,700 in 1998-99) and by taking out loans (typically $4,100) offered at favorable terms. Loans are reduced or eliminated for low-income students. Princeton provides grants to fill any gap between a student's expenses and the amount a student and his or her parents are able to pay.
The size of the parental contribution is determined with the help of a formula developed by the College Scholarship Service. Princeton, however, uses a method that reduces or eliminates the use of home value in determining aid.
Princeton's Financial Aid Budget, 1998-99
Number of undergraduates receiving financial aid 43% 2,000 Median family income of students receiving aid $70,000 Total scholarship budget $30,200,000 Provided by the University 85% Endowed scholarships 25,400,000 General funds 100,000 Yearly gifts to scholarship program 400,000 Provided by government 8% 2,300,000 Provided by outside organizations 7% 2,000,000 Amount borrowed by financial aid students $7,000,000 Earnings of financial aid students $2,000,000