Thursday 8 September 2022 09:07 PM Princeton will offer 'free ride' worth $300,000 to all students whose families ... trends now

Princeton announced it will offer a 'free ride' for most undergraduate students from families making under $100,000, including tuition, accommodation and food. 

The Ivy League institution's offer breaks down to about $79,540 annually, and is equivalent to more than $300,000 over the course of four year-degree. 

The offer will also be extended to some students coming from families making as much as $300,000 that have multiple children at the New Jersey college.  

About a quarter of the elite University's student body of about 5,500 - some 1,375 students - is expected to qualify. The new aid program will come into effect fall of 2023.

The money to support the aid program is coming out of investment returns from the school's endowment worth over $79 billion according to The Washington Post.

Princeton previously offered a similar package for students coming from families making under $65,000.

The move comes as Princeton has spent years trying to shake its long-held reputation as being a stronghold for the wealthy and elite by recruiting heavily from a high schools representing diverse economic background.

Princeton president Christopher L. Eisgruber's announcement of the program echoed those ideas.

'We know that Princeton can achieve its research, teaching and service goals only if it attracts the best talent from throughout society,' Eisgruber said, 'I hope that these improvements will help prospective students and families see more clearly than ever one of this University's core commitments - at Princeton, we seek and welcome talented learners from every background and every sector of society.