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.
ALSO READ | 2 popular spots in Queens sinking faster than rest of NYC, study finds
----------
* Get Eyewitness News Delivered
* Download the abc7NY app for breaking news alerts
Submit a tip or story idea to Eyewitness News
Have a breaking news tip or an idea for a story we should cover? Send it to Eyewitness News using the form below. If attaching a video or photo, terms of use apply.
