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Princeton announces 6.6% increase in financial aid budget for 2022–23 academic year

<h6>&nbsp;Abby de Riel / The Daily Princetonian</h6>
 Abby de Riel / The Daily Princetonian

On Thursday afternoon, the University announced that it will be increasing its annual operating budget for the fiscal year 2022–2023, including a 6.6 percent increase in the total undergraduate financial aid budget, along with increases in support for graduate students. The total support for students will increase by more than $500 million. 

Total fees, which include tuition, room, and board, will clock in at $76,040 for undergraduate students attending Princeton next year, marking an increase of 2.5 percent from the 2021–22 school year. However, the average scholarship for students on financial aid will see a four percent increase, amounting to about $64,000 per student, meaning there will be an average net increase of 1.5 percent in aid for students. 

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Princeton maintains a “stay even” financial policy, with the goal of keeping rates stable for students receiving financial aid.  

For graduate students, the University reiterated its commitment to the 25 percent stipend increase that was announced in January, adding that total support for graduate student tuition and stipends will exceed $290 million in the coming year.

University President Christopher L. Eisgruber ’83 proposed the budget at the April 9 Trustees’ Meeting.

Hope Perry is the Head Podcast Editor at the ‘Prince’ who has covered USG, University COVID-19 policies, and U.S. politics. She can be reached at hperry@princeton.edu or on Twitter @hopemperry.

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