Princeton University offering free tuition for families making less than $100K a year

PRINCETON, New Jersey -- Princeton University is offering a tuition break to students and families who would not otherwise be able to afford it.

Attendance will be free for "most families earning up to $100,000 a year." And students with family incomes over $100,000 will get more aid.

The total cost for attending Princeton is upwards of $83,000 a year. That's more than $59,000 in tuition and over $11,000 for housing.

This isn't the first time Princeton has made such a move.



In 2001, it became the first university to ensure students wouldn't have to take out loans to earn a degree there.

Princeton can easily afford to make this offer. According to one expert, the school has a $35.8 billion endowment.

However, the same expert says the move doesn't address the problem of tuition inflation.

He suggests making schools responsible for a portion of student loan debts in cases of default.

CNN contributed to this report.

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