Princeton University is going to give students who belong to families that make less than $100,000 full rides to attend the school.
According to SmartAsset, 70 percent of American households earn less than $100,000 a year. On Thursday, Princeton University announced families within that income range would be eligible to receive a full ride to attend. The school made the same arrangement for families earning less than $65,000 a year.
As part of this plan, the school will have the program take effect in the fall of 2023, and 1,500 will be able to receive financial assistance. Tuition, room and board will also be covered by the school for students, USA Today reports.
“The improvements continue Princeton’s national leadership in the area of financial aid as families across the income spectrum struggle with rising college costs,” said the university in a release.
Princeton University President Christopher L. Eisgruber said the school’s paid packages for students are a product of the “generosity of our alumni and friends,” USA Today reports.
“One of Princeton’s defining values is our commitment to ensure that talented students from all backgrounds can not only afford a Princeton education but can flourish on our campus and in the world beyond it,” Eisgruber said.
