Princeton Expands Financial Aid for 2025: Largest Pell-Eligible Class Ever

Princeton University has announced another major expansion of its undergraduate financial aid program as it welcomes the Class of 2029. The updated policy further lowers the cost barrier for families across a wide income range and coincides with the largest-ever number of Pell-eligible students in an incoming Princeton class.

What’s New in Princeton’s Financial Aid (Effective Fall 2025)

Full cost of attendance (tuition, housing, food, books, personal expenses) covered for most families earning up to $150,000 per year.
No tuition for most families earning up to $250,000 per year.
Grant aid extends beyond $350,000 for many U.S. families, especially those with multiple children in college.
The average aid package for 2025–26 is projected to exceed $80,000, and about two‑thirds of students are estimated to qualify for aid.

Princeton continues to meet full demonstrated need with grants (no loans), a policy it pioneered in 2001. Endowment payouts dedicated to aid cover nearly 70% of the undergraduate aid budget.

Class of 2029: By the Numbers

Pell‑eligible students: ~25% (largest in Princeton’s history; up from 21.7% for the Class of 2028).
Size: 1,409 first‑time, first‑year students; 32 transfer students joining in 2025–26.
Financial aid reach: 69% of first‑years qualify for financial aid.
First‑gen students: 16.7%; children of alumni: 12.4%.
Geography: Students from 47 U.S. states + D.C., U.S. territories, and 65 countries.

U.S. race/ethnicity (self‑reported)

Asian American: 27.1%
Hispanic or Latino: 9.2%
Black or African American: 5.0%
Multiracial: 7.7%
White: 28.5%
Unknown/Did not identify: 8.2%

Note: Figures reflect first‑time, first‑year students as of July 29, 2025; ethnicity data shown for U.S. citizens and permanent residents.

Why This Matters for Families

For many middle‑ and lower‑income households, Princeton’s policy changes can dramatically reduce or eliminate out‑of‑pocket costs, including living expenses—something most colleges do not fully cover. The expansion widens access for students who previously fell into the “too much for aid, too little to afford” gap, and it reduces debt risk by maintaining no‑loan aid packages.

Key Takeaways

Princeton’s aid expansion strengthens its leadership in access and affordability.
Most families up to $150,000 can now attend with $0 total cost; up to $250,000 pay $0 tuition.
The Class of 2029 is the most Pell‑inclusive in school history.
Princeton’s endowment‑backed, grant‑only model continues to set a benchmark for elite institutions.