In a rather welcome move to make higher education accessible to all, New jersey’s Princeton University earlier this week announced that students whose parents earn less than $100,000 per year will have to no longer pay any expenses to attend college. The move is aimed at increasing the ‘socioeconomic diversity’ of the Ivy League campus, according to the school administrators.
Princeton University, whose notable alumni include Former First lady Michelle Obama, Amazon founder Jeff Bezos, and Supreme Court Justice Sonia Sotomayor amongst others will no longer accept any payment from students belonging to the aforementioned income bracket.
The move is expected to help over 25 per cent of the university’s undergraduates. Reportedly, over 1,500 students will receive full financial aid that covers their tuition, room, and board expenses.
“One of Princeton’s defining values is our commitment to ensure that talented students from all backgrounds can not only afford a Princeton education but can flourish on our campus and in the world beyond it,” stated Christopher L. Eisgruber, Princeton’s president.
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It is pertinent to note that earlier only families earning less than $65,000 used to receive full financial aid coverage.
In addition to lowering the ceiling for availing financial help, the University has also done away with the annual student contribution. Under this contribution, students were expected to pay a portion of tuition and expenses with their own savings and on-campus work.
Instead, students will have increased financial aid for books and other personal allowance,
“These improvements to our aid packages, made possible by the sustained generosity of our alumni and friends, will enhance the experiences of students during their time at Princeton and their choices and impact after they graduate.” President Eisgruber further added.
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The Ivy League colleges in the USA are one of the most sought-after educational institutions across the globe. Millions of students apply for enrolment every year. However, despite clearing the initial hurdles, many are not able to afford the sky-high price of attending these schools.
(With inputs from agencies)
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