Undergraduates share in bounty
Beginning
next fall, Princeton will eliminate its loan requirement for
undergraduates, and replace it with additional scholarship
support. Princeton is the first of its peer institutions to
announce that aid recipients will not be required to borrow
to pay for college.
Other improvements to financial aid include:
* The required annual contribution from
student savings will be decreased from 35 percent to 5 percent
of those savings, and the difference will be made up by grants.
* The amount that many students are expected
to contribute from their summer savings is being reduced.
* For aid students in families that earn
less than $66,500 per year, the University will increase the
student's grant to fully cover the Student Health Plan.
* International students will be admitted
on a "need-blind" basis, just as U.S. and Canadian students
already are.
These changes in financial aid will cost
Princeton more than $5 million next year, with funding coming
from strong growth in Princeton's endowment and the success
of its Annual Giving program and its recent fundraising campaign.
More information about the new initiatives
can be found at: http://www.princeton.edu/pr/news/01/q1/0127-gs.htm
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