The trustees of Princeton University have approved projected increases in the budgets for undergraduate financial aid and graduate student support, underscoring the University’s steadfast commitment to access, affordability and socioeconomic diversity, as well as the continued expansion of the University’s undergraduate population.

The undergraduate financial aid budget is projected to increase 8%, to $306 million, and total graduate student support is projected to rise 7%, to $365 million, for 2025-26.

“A Princeton education is a truly transformative experience, and our world-leading financial aid program makes that experience affordable for undergraduate and graduate students from all walks of life,” Provost Jennifer Rexford said.

Princeton’s undergraduate financial aid program, made possible by the University’s endowment and the sustained generosity of alumni and others, is one of the most generous in the country.

Most families with incomes up to $100,000 pay nothing for their undergraduate students to attend Princeton, receiving aid to cover the total cost of attendance, including tuition, housing, food, books and personal expenses. Half of all Princeton students receive aid that covers the full cost of tuition, including most families with incomes up to $200,000.

A quarter of all undergraduates pay nothing to attend, and two-thirds of undergraduates currently receive assistance, including those from families with incomes up to $300,000 and beyond.

In 2025-26, the estimated average grant for undergraduates who receive financial aid will rise by more than $3,000, exceeding $76,000 per year.

Endowment payouts dedicated to financial aid cover almost 70% of the undergraduate financial aid budget and 60% of the University’s overall operating budget.

Princeton is also committed to supporting its graduate students. The 7% increase in total support for 2025-26 includes a 3.2% average increase in graduate fellowship and stipend rates.

For fiscal year 2026, spending on graduate and undergraduate student financial support is expected to show an increase of about 45% over 2022, or $208 million, due to Princeton’s pathbreaking changes in aid methodology, higher education-leading increases in graduate student stipend rates and policy-driven growth of the number of students receiving financial support.