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Undergraduate Costs and Financial Aid

Here is what it costs for an undergraduate to study in 2013-14:

Tuition $40,170
Room 7,220
Board 5,860
Miscellaneous expenses (books, supplies, etc.) 3,500
Total $56,750

Admission to Princeton is need-blind for all applicants, including international students, ensuring equality of opportunity for low- and middle-income students. Princeton provides grants and campus jobs — not student loans — to meet the full demonstrated financial need of all students offered admission. Currently, about 60 percent of Princeton’s undergraduate students receive financial aid from the University.

Class of 2017

Percent on aid

Aid recipients 60%
Non-aid 40%

Average aid award ($41,450)

Grant aid 95% $39,350
Campus jobs 5% $2,100

Students who receive financial aid help pay for their education by working in the summer and during the school year. Because 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 Estimated Financial Aid Budget, 2013–14

Number of undergraduates receiving financial aid 60% 3,120
Average family income of students receiving aid   $119,750
Average parental contribution for students receiving aid   $15,600
Total scholarship budget   $121,400,000
    Provided by the University 93.7%  
        Endowed scholarships   99,850,000
        General funds   13,420,000
        Yearly gifts to scholarship program   400,000
    Provided by government 3.2% 3,930,000
    Provided by outside organizations 3.1% 3,800,000
Earnings of financial aid students   $3,000,000