Princeton Financial Aid: Everything You Need to Know

Thinking about applying to Princeton but worried about the price tag? You’re not the only one. The cost can look sky-high at first glance, but the number you see online isn’t what most students actually pay.

In this blog, you’ll get a clear breakdown of how Princeton’s financial aid works, what kind of support you can expect, how to apply, and why a school like Princeton might end up being a better financial deal than you expected, even compared to in-state options.

• How Does Princeton’s Financial Aid Work?
• Cost of Attendance at Princeton
• Princeton Financial Aid Deadline
• How to Apply for Financial Aid at Princeton
• Additional Support Beyond Aid
• Frequently Asked Questions
• Takeaways

How Does Princeton’s Financial Aid Work?

Princeton’s financial aid program is one of the most generous in the country. Rather than relying on the standard federal formula, Princeton looks at your full financial picture—income, non-retirement savings, family size, and how many kids are in college. The goal is simple: to make sure cost doesn’t stop you from attending.

No loans, only grants

Princeton meets 100% of your demonstrated financial need with grants, not loans. That means you won’t be expected to repay anything after graduation.

If your family earns under $100,000 per year, you’ll likely pay nothing at all. For incomes above $100,000, Princeton generally expects around 25% of the amount over that threshold to go toward college costs. About 5% of any savings over $150,000 (excluding your primary home and retirement accounts) may also factor in.

In the Class of 2025, the average aid grant was $62,200—enough to fully cover tuition. Students from families earning $65,000 or less often received aid that covered tuition, housing, and meals. Even families earning up to $180,000 qualified for some level of aid.

Strong support for most students

Roughly 62% of Princeton undergrads receive financial assistance. About 22% qualify for Federal Pell Grants. In total, the university awarded approximately $212 million in grants to over 3,200 students. As a result, 89% of students graduate without any debt.

How to find out what you might pay

You can get a personalized estimate using Princeton’s free Net Price Calculator. It’s available to U.S. and Canadian families and uses Princeton’s specific aid policies for a more accurate result than federal tools.

Cost of Attendance at Princeton

It’s important to understand the full cost of attending Princeton, not to scare you off, but to help you see just how much you could save through Princeton’s generous financial aid program. Knowing the actual numbers makes the value of that aid even more impressive:

So, the total estimated cost is $90,718 for the year.

Housing and food costs are based on standard on-campus dorms and meal plans, totaling $21,170. The $288 in fees covers student activities and class dues, while miscellaneous expenses of $4,050 account for books, laundry, and personal items. Transportation and health insurance are not included in the estimate and can vary depending on individual circumstances.

But here’s the key: most students don’t pay that amount. In fact, thanks to Princeton’s no-loan, need-based financial aid program, the majority of students pay significantly less, and many pay nothing at all.

Princeton Financial Aid Deadline

It’s important to stay on top of your Princeton financial aid deadlines so you don’t miss out on the support you might need. Here’s a quick breakdown of the key dates for different types of applicants:

Tips for staying on track:

• Set reminders. Mark these deadlines on your calendar or phone so you don’t miss a date. You can even set up a countdown to keep you on track!
• Prepare early. Gather the required documents ahead of time, including:
  • Princeton Financial Aid Application (PFAA)
  • Your parents’ 2023 federal tax return and W-2s (or equivalent if they don’t file)
  • The FAFSA (due February 10)
  • Noncustodial parent form (if applicable)
• Don’t rush. Complete each form carefully and accurately. Missing information or making mistakes could delay your financial aid, so take your time to get it right.
• Ask for help. If you’re feeling uncertain about anything, reach out for guidance! Your counselor or Princeton’s financial aid office can help walk you through the process and answer any questions you might have.

How to Apply for Financial Aid at Princeton

Applying for financial aid can seem like a lot of work, but don’t worry! We’ve broken it down into simple steps to help you through the process. Follow these steps carefully, and you’ll be on your way to securing financial aid at Princeton:

Step 1: Submit your admission application.

Before you can apply for financial aid, you need to submit your application for admission to Princeton. This is the first step in getting the financial aid process started. Once your application is in, you’ll be ready to move on to the next steps.

Step 2: Wait for your Princeton Applicant Portal info.

After submitting your application, you’ll need to wait about 48 hours to receive an email with your portal login details. This email will contain all the info you need to access your Princeton Applicant Portal. Once you have access, you can start filling out your financial aid application.

Step 3: Complete the Princeton Financial Aid Application (PFAA).

After you get your portal login, head over and fill out the Princeton Financial Aid Application. It’s free, easy to use, and available to both U.S. and international applicants.

Don’t worry, you can save your progress and come back to it later. Just remember, once you hit submit, you won’t be able to change anything, so double-check your info before you do!

Step 4: Upload your parents’ 2023 tax returns and W-2s.

Next, you’ll need to upload your parents’ 2023 signed federal tax return and W-2 statements into your Princeton portal. This is a must, and the documents should include:

• Form 1040 (federal income tax return)
• All tax schedules
• W-2 statements
• Any K-1 or business returns if they apply

If your parents don’t file taxes in the U.S., you’ll need to upload a different document, so be sure to check the Income Documentation page for the right details.

Step 5: Complete the FAFSA.

If you’re a U.S. citizen or permanent resident, you’re required to complete the FAFSA by the February 10 deadline. Don’t forget to include Princeton’s federal school code, 002627, so they receive your FAFSA info. 

Step 6: Submit the noncustodial parent form (if applicable).

If your parents are divorced, separated, or unmarried and live in separate households, you’ll need to complete the noncustodial parent form. This is an essential part of applying for need-based aid.

If this applies to you, make sure to check out the Family and Household Status page for guidance.

Additional Support Beyond Aid

Princeton knows there’s a lot more to college expenses than just classes, and they’ve built a support system to help you cover everything else, too. Here’s how they’ve got you covered:

Student employment opportunities

If you’re looking to earn some extra cash while gaining work experience, Princeton has tons of on-campus jobs that can fit your schedule. You can work in places like libraries, dining halls, or academic departments, whatever works best for you.

If you’re eligible for Federal Work-Study (FWS), you can access even more opportunities, including jobs in community service areas like education or healthcare. FWS jobs are paid hourly, and Princeton makes sure you’re paid for every hour you work, helping you avoid debt while you gain valuable skills and meet new people.

To see if you qualify for FWS, just check your My Financial Aid account!

Outside scholarships

The good news is that Princeton lets you apply for outside scholarships to help reduce your cost of attendance. They’ll even work with you to make sure it fits into your financial aid package. Just remember to report any scholarships you get so they can apply them correctly.

And if you’re still looking for more scholarship opportunities, check out our list of 40 scholarships for college that could be a great fit for you!

Veterans benefits

If you or your family has military connections, like being a veteran or a dependent, you might qualify for some pretty valuable education benefits. Princeton supports military families by applying your VA benefits directly to your college costs.

Whether you’re using the Post-9/11 GI Bill® or the Survivors’ and Dependents’ Educational Assistance (DEA) program, the financial aid team will guide you through the process, ensuring you understand what documents are needed. 

If you choose to certify your benefits, you can still apply for additional need-based aid to help cover any remaining costs. Just keep in mind that the Princeton Grant will be adjusted based on your VA benefits, but it won’t exceed the total cost of attendance.

Frequently Asked Questions

1. Does Princeton give good financial aid?

Yes, Princeton offers one of the most generous financial aid programs in the country. They meet 100% of your demonstrated need entirely with grant aid, no loans required.

If your family earns under $100,000 a year, you typically pay nothing out of pocket. For income above $100,000, about 25% of the excess is expected to go toward college costs, and 5% of non-retirement savings over $150,000 may also be factored in.

2. How much financial aid does Princeton give?

The average grant for Princeton’s Class of 2025 was $62,200, covering most of the tuition cost, and about 62% of students received financial aid. Princeton’s financial aid program is designed to support students from a variety of backgrounds. 

3. Does Princeton give financial aid to international students?

Princeton offers the same need-based financial aid to international students as it does to U.S. students. If you’re from another country and your family can’t cover the full cost of tuition, Princeton will meet your financial needs, and you won’t have to take out loans. 

4. What if I get a scholarship from outside Princeton, can I still use it?

Absolutely! If you earn a scholarship from your school, community, or even your parents’ job, Princeton lets you apply that toward your overall cost of attendance. They’ll adjust your financial aid package to make sure the outside scholarship fits into the total amount of support you’re getting. This ensures that any extra funds you’ve secured won’t interfere with your existing aid but will be used to help reduce your costs.

Takeaways

• Princeton’s financial aid program ensures you don’t have to pay the full sticker price, as they meet 100% of your demonstrated need with grant aid, no loans required.
• If your family earns under $100,000 a year, you typically pay nothing. For families earning above $100,000, Princeton expects about 25% of the excess income to contribute toward costs.
• If you’re from outside the U.S., don’t stress. Princeton gives international students the same financial aid support as U.S. students.
• As long as you stay organized and hit those deadlines, applying for aid at Princeton is way more doable than it seems.
• A college admissions expert can help you apply to Princeton the right way, making sure you don’t miss key steps in the financial aid process and giving you a better shot at getting in.