Princeton University's endowment earned a 12.7 percent investment gain for the fiscal year that ended June 30, 2015. The endowment value stood at $22.7 billion, an increase of about $1.7 billion from the previous year.
The average annual return on the endowment for the past decade is 10.1 percent, which places the University's endowment among the top percentile of 471 institutions listed by the Wilshire Trust Universe Comparison Service.
The Princeton University Investment Co. (PRINCO), the University office that manages the endowment, will certify the results during a meeting of its directors on Oct. 22, 2015.
"The continuing strong performance of the endowment makes it possible to sustain the University's generous financial aid, which makes it possible for any student who is admitted to attend Princeton, regardless of ability to pay and without the need for loans," Provost David S. Lee said.
Typically, Princeton students from families with the U.S. median household income of $54,000 pay no tuition and their grant also covers room, board and other expenses. Most students from families with incomes up to $140,000 pay no tuition, and for an average family with income around $160,000, grant support covers roughly 80 percent of tuition.
As a result of the University's efforts to increase the economic diversity of the student body, 18 percent of the freshman Class of 2018 received Pell grants, up from 7.2 percent for the freshman Class of 2008.