* Need-blind admission: Your financial situation does not affect your chances of admission. They consider your application based solely on merit.
* Need-based aid: Financial aid is awarded based on demonstrated financial need, determined through a thorough assessment of your family's financial circumstances. Princeton does not offer merit-based scholarships.
The types of financial aid offered include:
* Grants: These are gifts of money that do not need to be repaid. They are the primary form of financial aid at Princeton.
* Loans: While Princeton aims to minimize student loan debt, they may offer federal and/or institutional loans in some cases, usually as a supplement to grants, to fully cover the student's demonstrated financial need. Princeton strongly encourages students to borrow as little as possible.
* Work-study: This program provides part-time jobs on campus that allow students to earn money to help cover their expenses.
Essentially, Princeton aims to make a Princeton education affordable for all admitted students, regardless of their financial background. They strive to meet 100% of demonstrated financial need for all admitted students, including tuition, fees, room, board, and other essential expenses. The exact breakdown of grants, loans, and work-study will vary depending on each student's individual financial circumstances.