Lori Meadows
Princeton University is committed to making its education accessible and affordable to all. The university's no-loan policy replaces student loans with grant aid, allowing students to graduate with little to no debt. The university offers various methods for students to pay their bills, including semester plans, monthly payment plans, and loans. Additionally, scholarships, grants, and federal aid are available to help students cover the cost of tuition, which is $62,400, higher than the national average. With an acceptance rate of around 4%, Princeton is highly selective, and over 60% of its students receive financial aid.
| Characteristics | Values |
|---|---|
| Tuition fees | $62,400 |
| Total cost (including food, housing, books, supplies, transportation, and personal expenses) | $84,040 |
| Net price (average cost after aid and scholarship funds are discounted) | $12,176 |
| Undergraduate cost per credit hour for the 2022-23 academic year | $1,794 |
| Graduate student tuition for the 2022-23 academic year | $57,410 |
| Graduate student fees for a student health plan | $3,000 |
| Total cost of attendance for graduate students for the 2022-23 academic year | $60,410 |
| Percentage of students with federal loans | Greater than those with private loans |
| Percentage of students receiving financial aid | 60%+ |
| Percentage of undergraduates receiving financial aid | 62% |
| Amount of grant funds awarded to undergraduates in 2021-22 | $212 million |
| Average grant for the Class of 2025 | $62,200 |
| Percentage of the Class of 2025 eligible for need-based Federal Pell Grants | 22% |
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What You'll Learn
Undergraduate tuition fees
However, it's important to note that Princeton is committed to making its education accessible and affordable to all students, regardless of financial circumstances. The university offers a generous financial aid program that allows undergraduates to graduate with little to no debt. Princeton's no-loan policy replaces student loans with grant aid, and the university will meet 100% of the demonstrated financial need of admitted students. In fact, the university's financial aid budget for 2022-23 included a 6.6% increase to $217.4 million in undergraduate financial aid, totalling support for undergraduate and graduate students of over $500 million.
There are various options for paying the university bill at Princeton. Students can choose to make one payment each semester, with half due in the fall and half in the spring, or they can opt for ten monthly payments from August through May, with an enrolment fee of $40 per semester. For families who wish to borrow to cover the cost of attendance, Princeton offers the Princeton Parent Loan (PPL) at a fixed interest rate of 6.81% as of 2024-25. Additionally, the U.S. Department of Education's Office of Federal Student Aid provides approximately $112 billion in financial aid annually to help students pay for college or career school.
Students can estimate their bill charges using the Student Bill Estimator and determine their eligibility for financial aid using the Net Price Calculator (for United States and Canada residents only). The Princeton Financial Aid Application (PFAA) is free and available to both U.S. and international applicants.
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$14.99 $14.99
Graduate tuition fees
Princeton University is committed to making education affordable for all students, regardless of their financial circumstances. The university offers a no-loan policy, replacing student loans with grants that students do not need to pay back. This policy has allowed many students to graduate with little to no debt.
For the 2022-23 academic year, Princeton's graduate student tuition was $57,410. Graduate students were also required to pay $3,000 in fees for a student health plan, bringing the total cost of attendance to $60,410. This is significantly higher than the average graduate tuition and fees at private schools in the US during the same period, which was $19,616.
The graduate student cost of attendance (COA) includes tuition, fees, and the estimated cost of living for a single graduate student. The tuition rate depends on the student's enrollment status. For the 2025-26 academic year, the tuition for students with regular enrollment status is $65,210, while students with Dissertation Completion Enrollment status or in absentia status pay $4,700 for the academic year. All enrolled students are required to pay a Student Health Plan Fee of $3,800 for the academic year. The estimated annual living costs for a single graduate student for the 2025-26 academic year are $22,500, which includes housing, food, transportation, clothing, medical expenses, and an allowance for books and supplies.
There are various options available to help graduate students finance their education. Princeton offers different methods for paying the university bill, including a semester plan and a monthly payment plan. The university also provides a Princeton Parent Loan (PPL) program, which allows families to borrow funds at a fixed or variable interest rate. Additionally, federal student aid programs, such as the Direct PLUS Loan and Grad Plus Loans, are available to help cover the cost of attendance. Military-connected students may also be eligible for educational benefits that cover tuition, fees, books, supplies, and housing allowances.
Princeton guarantees full funding for its regularly enrolled, degree-seeking Ph.D. candidates for all years of their regular program enrollment, provided they meet the requirements for satisfactory academic performance. This funding covers the COA during regular program enrollment, including full tuition, student health plan fees, and a base stipend to support living expenses.
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Scholarships
Princeton University is committed to making its education affordable to all students, regardless of their financial circumstances. The university's no-loan policy replaces student loans with grants and scholarships, allowing students to graduate with little to no debt. The university meets 100% of the demonstrated financial needs of its students through a combination of scholarships, grants, and federal loans.
There are two main types of scholarships: need-based and merit-based. Need-based scholarships are awarded based on a student's financial status, while merit-based scholarships recognize academic or athletic achievement, community service involvement, unique hobbies or traits, personal background, or a parent's employer or military affiliation. Some students may receive enough scholarship money to cover their tuition and living expenses.
Princeton University is a QuestBridge Partner College, which means that QuestBridge recipients can use their scholarship funds to attend. Additionally, as a Coalition Member College, Princeton has been vetted by the Coalition for College for providing substantial support to lower-income, under-resourced, and/or first-generation students, offering responsible financial aid, and demonstrating a commitment to student graduation.
The university also offers graduate fellowships to attract promising Ph.D. students, guaranteeing funding for typically five years. Princeton's financial aid program is recognized as one of the most generous in the country, with 89% of recent seniors graduating with no debt. The university's commitment to making its education accessible to talented students from all sectors of society is reflected in its financial aid offerings.
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Student loans
Princeton University is committed to making its education affordable for all students, with a range of financial aid options available. The university has a no-loan policy, replacing student loans with grant aid that does not need to be repaid. This means Princeton students can graduate with little to no debt.
The university's financial aid program is recognised as one of the most generous in the country. It is designed to encourage all qualified students, regardless of financial circumstances, to apply for admission. In fact, Princeton's admission process is need-blind, meaning there is no disadvantage for applicants seeking financial aid. This ensures a diverse group of students from all socioeconomic backgrounds.
Princeton meets 100% of the demonstrated financial need of its students with grant aid. The university's grant aid covers tuition, room, and board for families making up to $65,000 per year. For the Class of 2025, the average grant was $62,200, which covered 100% of Princeton's tuition fees.
For students who do require additional financial support, there are options for loans. The percentage of students receiving federal loans is greater than those receiving private loans, which is a positive sign. Federal loans typically have lower interest rates than private loans and do not need to be repaid until after graduation. Private loans can be applied for at any time and may require repayment during studies.
Princeton also offers its own loan, the Princeton Parent Loan (PPL), which allows families to borrow at a fixed or variable interest rate. The university provides a Student Bill Estimator for those not using financial aid to estimate charges. Additionally, scholarships are available, which do not need to be repaid. These can be need-based or merit-based, rewarding academic or athletic achievement.
The total cost of attendance at Princeton, including tuition, fees, food, housing, books, and supplies, is approximately $84,040. However, the net price after financial aid and scholarships is significantly lower, at $12,176 for the average student receiving need-based aid.
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Financial aid
Princeton University is committed to making its education accessible and affordable for all students. The university offers a no-loan policy, replacing student loans with grants that students do not have to pay back, allowing graduates to leave with little to no debt. The university determines a family's ability to pay using a simplified formula, and meets 100% of the demonstrated financial need with grants. The average need-based scholarship or grant awarded to first-year students at Princeton University was $70,246, with 67% of first-year students receiving this type of financial aid in fall 2022.
To apply for financial aid, students must first apply for admission and create a Princeton Applicant Portal account. The Princeton Financial Aid Application (PFAA) is free and available to both US and international applicants. The university offers different payment methods, including a semester plan, a monthly payment plan, and the Princeton Parent Loan (PPL), which allows families to borrow at a variable or fixed interest rate.
In addition to need-based scholarships, students may also qualify for merit-based scholarships awarded for academic or athletic achievement, community service involvement, unique hobbies or traits, personal background, or a parent's employer or military affiliation. Some students may receive enough scholarship money to cover their tuition and living expenses.
Princeton's financial aid program is designed to encourage all qualified students, regardless of financial circumstances, to apply for admission. The university's admission process is need-blind, ensuring that applicants are not at a disadvantage based on their financial situation. The university's operating budget for 2022-23 was $2.66 billion, including a 6.6% increase in the undergraduate financial aid budget to $217.4 million, reflecting its commitment to making its education accessible and affordable.
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Frequently asked questions
Tuition at Princeton is $62,400. This is the cost for tuition and fees, also known as the sticker price.
The total cost of attendance is $84,040. This includes tuition and fees, food and housing, books and supplies, transportation, and personal expenses.
The average net price, which is the average cost after aid and scholarships are discounted, is $12,176 for students receiving need-based aid.
Princeton offers grants, scholarships, and loans to help students pay for college. The university meets 100% of demonstrated financial need with grant aid. About 62% of undergraduates receive financial aid, with an average grant for the Class of 2025 of $62,200, which covers full tuition.
The percentage of students taking out loans at Princeton is 57% lower than the average for private not-for-profit schools. Princeton's no-loan policy replaces student loans with grants, allowing students to graduate with little to no debt.
