The trustees of Princeton University have approved increases in budgets for both undergraduate financial aid and graduate student support. This move highlights the University’s commitment to access, affordability, and socioeconomic diversity, as well as its plan to expand the undergraduate population.
For the 2025-26 academic year, the undergraduate financial aid budget will increase by 8% to reach $306 million, and the total graduate student support will see a 7% rise, amounting to $365 million.
“A Princeton education is a truly transformative experience, and our world-leading financial aid program makes that experience affordable for undergraduate and graduate students from all walks of life,” said Provost Jennifer Rexford.
Princeton is recognized for its generous undergraduate financial aid program, largely funded by its endowment and alumni contributions. Most families earning up to $100,000 are able to send their students to Princeton without cost, as aid covers tuition, housing, and other expenses. Half of all students receive aid that covers full tuition costs, extending to many families earning up to $200,000.
A quarter of undergraduate students attend Princeton without any expenses, with two-thirds receiving some form of aid, benefiting families with incomes exceeding $300,000. The average grant for eligible undergraduates is expected to exceed $76,000 per year in 2025-26.
The University’s endowment payouts cover nearly 70% of the undergraduate financial aid budget and 60% of its overall operating budget. The increase in graduate student support includes a 3.2% rise in fellowship and stipend rates.
From 2001, Princeton eliminated loans from undergraduate aid packages, allowing students to graduate without debt. Recent enhancements to this program began in the 2023-24 academic year, broadening support for more families.
Financial aid practices have evolved since the Class of 2008, with 73% of the Class of 2028 qualifying for aid compared to 52% in 2008. Students eligible for federal Pell grants have increased from 7% in 2008 to 24% in 2028.
Princeton awards financial aid through grants that do not require repayment. Aid packages are adjusted annually to cover rising tuition and fees while accounting for changes in family financial situations.
The undergraduate fee package for 2025-26 is set at $86,380, with the average scholarship recipient expected to pay approximately $10,380. The average grant increasingly covers more of these costs, now expected to cover nearly 90% of charges.
Approval for the primary budget came during a Board of Trustees meeting in late March, amidst uncertainties about federally sponsored research funding which constitutes about one-fifth of Princeton’s annual spending. The Board also confirmed the University’s strong commitment to student financial support.
