Princeton University has announced further enhancements to its financial aid program as it welcomes the Class of 2029, which includes a record number of lower-income students eligible for federal Pell Grants. Approximately 25% of the incoming class are Pell-eligible, up from 21.7% in the previous year and marking the highest number in the university’s history.
The new financial aid measures will take effect this fall and apply to both new and returning students. Most families with incomes up to $150,000 annually will pay nothing for their student to attend Princeton, covering all costs including tuition, housing, food, books, and personal expenses. Families earning up to $250,000 will not be charged tuition. Many families with incomes beyond $350,000 will also receive grant aid if they have multiple children in college.
“Through our increased investment in financial aid, we are making the transformative experience of a Princeton education more affordable for more students than ever,” said Provost Jennifer Rexford.
The average undergraduate aid package for 2025-26 is expected to exceed $80,000. About two-thirds of undergraduates are estimated to qualify for some form of aid. These changes build on previous enhancements made in fall 2023.
Princeton’s financial aid program is supported by its endowment and alumni contributions. Nearly 70% of the undergraduate financial aid budget comes from endowment payouts dedicated specifically for this purpose. In 2001, Princeton became the first university in the country to eliminate loans from its financial aid packages; all student need is met through grants that do not require repayment.
As of July 29, there are 1,409 first-time first-year students enrolled in the Class of 2029 and about 69% qualify for financial aid. Thirty-two transfer students will also join Princeton’s undergraduate community this academic year.
“We are thrilled to welcome the Great Class of 2029 to campus,” said Dean of Admission and Financial Aid Karen Richardson. “My colleagues and I enjoyed getting to know them through their applications and now look forward to their arrival. Each of the students has experienced great personal and academic success, and they are primed to bring that same energy to campus this fall.”
Sixteen point seven percent (16.7%) of first-year students are first-generation college attendees while 12.4% are children of alumni. The class represents students from 47 states plus Washington D.C., Guam, Northern Mariana Islands, Puerto Rico, U.S. Virgin Islands, as well as international students from 65 countries including Bolivia, Croatia, India, Kenya, New Zealand and South Korea.
Among those enrolling this year:
– 65.7% indicated interest in a bachelor of arts degree,
– 27.3% expressed interest in a bachelor of science in engineering,
– The remainder were undecided.
Ethnic breakdowns among U.S citizens/permanent residents include:
– Asian American: 27.1%
– Hispanic or Latino: 9.2%
– Black or African American: 5%
– Multiracial: 7.7%
– White: 28.5%
– Unknown/Not disclosed: 8.2%
The percentage who did not identify a race rose slightly—a trend seen nationally since recent Supreme Court decisions limited consideration of race in admissions processes (see Students for Fair Admission v Harvard College; University of North Carolina). Princeton states its holistic admissions process complies with these rulings.
Of new transfer students joining Princeton:
– Twenty-two have served in branches such as Air Force, Army, Marines or Navy.
– Twenty-seven transferred from community colleges including Essex County College (NJ), Ocean County College (NJ), Rowan College at Burlington County (NJ), Hudson Valley Community College (NY), Coastline College (CA).
