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Undergraduate Costs & Financial Aid

Here is what it costs for an undergraduate to study in 2007–08:

Tuition $33,000
Room 5,980
Board 5,000
Miscellaneous expenses (books, supplies, etc.) 3,395
    Total $47,375

Firmly committed to equality of opportunity, Princeton admits students without regard to their financial circumstances and provides student grants and campus jobs—not student loans—to meet the full demonstrated financial need of all students offered admission. This policy applies to both domestic and international applicants. Currently, more than half of Princeton’s undergraduate students receive financial aid from the University.

Class of 2011

Percent on aid    
     Aid recipients   54%
     Non-aid   46%
Average aid award ($32,200)    
     Grant aid $31,000 96%
     Campus jobs $1,200 4%

Students who receive financial aid help pay for their education by working in the summer and during the school year. Since they are no longer required to take loans to help pay their basic expenses, the University provides grants to fill any gap between the cost of attendance and the amount a student and his or her parents are able to pay.

The amount parents are asked to contribute varies from family to family based on a review of their financial circumstances. Princeton uses its own need formula to determine parental contributions.

Princeton’s Financial Aid Budget, 2007–08

Number of undergraduates receiving financial aid 53% 2,592
Median family income of students receiving aid $90,500
Average parental contribution for students receiving aid $13,850
Total scholarship budget $82,200,000
    Provided by the University 92%
        Endowed scholarships 60,375,000
        General funds 12,525,000
        Yearly gifts to scholarship program 3,210,000
    Provided by government 4% 3,190,000
    Provided by outside organizations 4% 2,900,000
Earnings of financial aid students $2,000,000