In 2022, tuition for full-time students at Princeton was $59,710 a year.
In 2023, tuition increased 4.01%–from $57,410 the prior year. On average, college tuition rises about 3% year.
If this makes attending the college of your dreams feel scary, remember, the "sticker price" of tuition does not tell the full story. Many students owe far less than the total tuition after grants, scholarships, and tuition discounts kick in. Additionally, student loans can make thecost of college feel more doable until you're done with college.
Princeton University meets 100% of the demonstrated financial need for undergraduates. The average financial aid package for a full-time, first-year student at Princeton University is around $61,731 a year.
In 2020, students graduated with an average of $10,299 in student loans for each student with debt.
Princeton University is a private, nonprofit institution, so it has the same tuition for students from New Jersey as it does for students who live in other states.
Public schools receive funds from the state to help them cover costs. Public, state schools can offer lower tuition for students who meet the requirements for in-state residency.
Attending a college where you qualify for the reduced tuition offered to state residentscan save significant money on the cost of tuition, as well as loans and interest owed. Take the time to confirm your state's eligibility criteria for in-state residency. Each state has different requirements to qualify as in-state resident. In many states, students must have lived in the state for 12 months before starting school to qualify for in-state tuition. There may be other criteria too, depending on the state you and your parents currently live in.
Tuition at Princeton University is the same for each student.
International students are not eligible for federal financial aid, but should research private or Princeton University-specific grants, scholarships, and other funding opportunities. International students with need may be eligible for the following types of financial support at Princeton University:
•On-campus jobs •Princeton University-specific loans •Princeton University-specific scholarships
In addition to tuition, there are other costs associated with college, like room and board, facility fees, and books and supplies. Let's take a look at what impacts these costs, and what to expect at Princeton University.
Room and board at Princeton University costs $19,380 a year. This number covers the cost of living in dorms or other on-campus housing, plus a meal plan that allows you to eat in the school dining facilities.
Board costs can depend on the number of meals you intend to eat on-campus
The cost of books often surprises first-year college students. The real cost of books depends on the courses you take and the textbooks, computer programs, or other materials are required.. To save money, many students choose to use books from the library or buy books from students who have already taken the course.
Most schools also have fees to offsets cost associated with maintaining facilties, like the computer labs and libraries, athletic facilities, and more.
Keep in mind, there could also be additional fees associated with participating in special activities, like joining a fraternity or sorority, or playing on an intramural sports team. Most colleges offer resources so that those who may struggle to participate because of cost can get help covering these costs.
The total cost of transportation in college can really vary. Will you take a subway, car or an airplane to get to school? Is on-campus parking free, or will you need to budget for parking? Is the campus easy to get around on foot? Do you plan to bring a car or are you planning to use public transportation? All of these factors can make a big difference in your estimated cost of transportation. At Princeton University, freshman are not allowed to park on campus.
A school's location can impact your transportation budget. Small, rural schools may be easier to get around, but the cost of getting to campus may be higher. On the other hand getting around in an urban area could be pricey, but cities may offer more buses, trains and low-cost flight options to actually get to school. The Princeton University campus is located in a suburb in New Jersey, near New York City and Philadelphia.
When budgeting for college, be sure to take into account personal expenses, like movies, takeouts, furniture or appliances for your dorm or housing, and essentials like laundry detergent, toothpaste and toilet paper.
Now, let’s do a rundown of all of the costs associated with college, to get a better idea of how much students can expect to shell out for Princeton University.
What will the cost of attending Princeton University be? Here is a breakdown of tuition and expenses.
|2023 Total Tuition and Expenses|
|Room and Board||$19,380|
The total estimated cost will vary depending on whether you are going to live on-campus or off-campus.
|Total Estimated Costs|
The breakdowns above provide a good estimate of the total cost of attendance before financial aid and scholarships. Tuition and fees may vary depending on program, course level, location, and more.
The majority of Princeton University undergrads use financial aid to finance their education. In 2023, 3,272 of the 5,617 undergrads enrolled received financial aid. Princeton University meets 100% of the demonstrated financial need for undergraduates.
The average financial aid package for a full-time, first-year student is around $61,731 a year. Around 17% of Princeton University undergrads take out student loans to cover any remaining costs. Princeton University graduates who have student loans graduate with an average of $10,299 of student loan debt.
The average debt for each loan type varies.
|Average Debt By Loan Type|
|Princeton University-Specific Loans||$5,513|
|Most Common Loans for Princeton University Students|
Most students take out institutional or government loans, because they tend to have lower interest rates and more flexible repayment options than private loans. Loans from the federal government can be subsidized or unsubsidized. Subsidized loans do not accrue interest during school, while unsubsidized loans begin accruing interest at the time the loan is issued. If students do no qualify for enough federal loans to cover the cost of tuition, some take out private loans. Parents can also take out ParentPLUS loans, which are government loans for parents who are helping their children pay for college.
The Free Application for Federal Student Aid (FAFSA) helps colleges determine how much financial need students and their familes have, so they can offer a financial aid package that meets, or come close to meeting, their need. For more information on Princeton University financial aid, keep reading, or visit their financial aid website.
Some students may receive grants and scholarships to help pay for college. Unlike loans, scholarships and grants do not have to be paid back.
In 2023, Princeton University awarded 3,272 need-based scholarships to students, giving away total of $199 million to help students with financial need cover the cost of school.
The net price of college is the actual cost of attending a school for one year. Net cost is calculated by subtracting any scholarships, grants or other aid that does not need to be paid back from the total cost. Student loans are not part of the calculation, because they need to be repaid.
Now that we have a sense of the total estimated costs for Princeton University students, we can subtract the average financial aid package to find the estimated net cost. Net cost can vary depending on a students’ need and the financial aid award received.
When considering whether a school fits your budget, it is important to consider the estimated net cost, not just the sticker price of tuition. Often, schools with the highest tuition also offer the most generous aid packages, so estimate your net cost before eliminating a school because it does fit your budget.
The average amount of financial aid received by a full-time first year student with demonstrated need at Princeton University was $61,731 in 2023. By substracting the average financial aid package from the estimated costs, we get a number that may make the cost of Princeton University seem more manageable.
|Estimated Net Cost for Full-Time Students|
Note: a negative number can indicate that a refund will be given to use toward other expenses such as housing, fees, and books. In such cases, be sure to reach out to the school directly for any clarification or questions.
What will attending Princeton University really cost you? The answer depends on several factors.
As of 2011, colleges are required to have a net price calculator on their website to help prospective students and their families understand the actual cost of attending that school, based on their financial situation. You can find the Princeton University's net cost calculator on their website.
Some students choose to use payment plans to make the cost of tuition fit more comfortably in their budget.
Princeton University does not have guaranteed tuition.
Princeton University offers an Installment Payment Plan, which allows students to pay tuition in a series of smaller chunks instead of one lump sum.
Schools sometimes waiver tuition for certain groups, to offset the cost of attending. Some schools offer tuition waivers for faculty, staff, and their families , underrepresented students, or military students. Even with a tuition waiver, students are usually responsible for housing, meal plans, and other expenses.
Check the financial aid website for more information on payment plans and tuition waivers.
An endowment is the total value of a school's investments, donations, and assets. Endowment is not necessarily an indicator of the quality of a school, but it can give you a sense of how much money a college can afford to invest in expanding programs, improving facilities, and supporting students.
As of 2022, the total market value of Princeton University's endowment was $35.8 billion. The average college endowment was $905 million in 2021. The school spends $64,089 for each full-time student enrolled.
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