Costs and Financial Aid

Here is what it costs for an undergraduate to study at Princeton in 1996–97:

Comprehensive fee (tuition and other fees) $22,000

Room 2,900

Board 3,425

Miscellaneous expenses (books, supplies, etc.) 2,365

Total $30,690

Students applying for financial aid help pay for their education by working in the summer and during the school year (contributing an average of $4,000 in 1996–97) and by taking out loans (typically $3,800) offered at favorable terms. Princeton then provides scholarships to fill any gap between a student's expenses and the amount a student and his or her parents are able to contribute.

The size of the parental contribution is determined with the help of a formula developed by the College Scholarship Service and used by many colleges across the country.

Princeton's Financial Aid Budget, 1996–97

Number of undergraduates

receiving financial aid 44% 2,040

Median family income of students receiving aid $66,000

Total scholarship budget $28,200,000

Provided by the University 85%

Endowed scholarships 21,000,000

General funds 2,600,000

Yearly gifts to scholarship program 300,000

Provided by government 8% 2,300,000

Provided by outside organizations 7% 2,000,000

Amount borrowed by financial aid students $7,000,000 Earnings of financial aid students $2,000,000