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

Thursday, September 28, 2023
Princeton University is offering free attendance to eligible students
Princeton University is providing more tuition aid opportunities for students and families who would not otherwise be able to afford it.

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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