Princeton University Tuition and Fees

By Kevin Brouillard

(Last Updated – 05/2023)

Total Cost of Attendance

As one of eight Ivy League institutions, Princeton University has a strong academic reputation, and it’s ranked the number-one university in the United States. Princeton tuition is $56,010 a year, which is more than the national average for four-year private colleges of $39,400. Many Princeton students receive financial aid to help pay for Princeton University cost.

Costs for 2022-2023

Financial Aid

About 62 percent of undergraduate students at Princeton University receive financial aid, including grants, scholarships, or loans. Admitted students with family incomes below $160,000 typically pay no Princeton tuition.

Explore financial aid options: New Jersey Student Loan & Scholarships.

Generally, financial aid is monetary assistance awarded to students based on personal need and merit. Students that qualify for financial aid can use it to pay for college costs like tuition, books, and living expenses.

The federal government is the largest provider of student financial aid. However, aid can also be given by state governments, colleges and universities, private companies, and nonprofits. The different types include:

•  Scholarships: These can be awarded by schools and other organizations based on students’ academic excellence, athletic achievement, community involvement, job experience, field of study, and financial need.

•  Grants: Generally based on financial need, these can come from federal, state, private, and non-profit organizations.

•  Work-study: This federal program provides qualifying students with part-time employment to earn money for expenses while in school.

•  Federal student loans: This is money borrowed directly from the U.S. Department of Education. It comes with fixed interest rates that are typically lower than private loans.

Colleges, universities, and state agencies use the Free Application for Federal Student Aid (FAFSA) to determine financial aid eligibility. The FAFSA can be completed online, but note that state and federal and school deadlines may differ.

You can find other financial aid opportunities on databases such as:

•  US Department of Education – Search for grants from colleges and universities by state

•  College Scholarship Service Profile (CSS) – A global college scholarship application used by select institutions to award financial aid

•  Scholarship Search Tool

Recommended: The Differences Between Grants, Scholarships, and Loans

Private Student Loans

Approximately 2% of undergraduates at Princeton get federal student loans. Around the same number of students receive private student loans to help pay for the cost of Princeton. Private student loans for Princeton students average $8,938.

Private loans are funded by private organizations such as banks, online lenders, credit unions, some schools, and state-based or state-affiliated organizations. While Federal student loans have interest rates that are regulated by Congress, private lenders follow a different set of regulations so their qualifications and interest rates can vary widely.

What’s more, private loans have variable or fixed interest rates that may be higher than federal loan interest rates, which are always fixed. Private lenders may (but don’t always) require you to make payments on your loans while you are still in school, compared to federal student loans which you don’t have to start paying back until after you graduate, leave school, or change your enrollment status to less than half-time.

Private loans don’t have a specific application window and can be applied for on an as-needed basis. However, if you think you may need to take out a private loan, it’s a good idea to submit your FAFSA first to see what federal aid you may qualify for as it generally may have better rates and terms.

If you’ve missed the FAFSA deadline or you’re struggling to pay for school throughout the year, private loans can potentially help you make your payments. Just keep in mind that you will need enough lead time for your loan to process and for your lender to send money to your school.

Recommended: Guide to Private Student Loans

Projected 4-Year-Degree Price

For a four-year degree, the cost of Princeton University, including books, tuition, and all other expenses would be around $321,660, based on the 2022-23 academic year. This is significantly higher than the average four-year cost of private colleges in the U.S. of $230,280.

Here’s some Student Loan & Scholarship Information for you.

Undergraduate Tuition and Fees

Costs for 2022-23

Princeton tuition and fees for undergraduate students totaled $57,410 in the 2022-23 academic year. The room and board expenses were $18,630, bringing the cost of Princeton to $76,040.

This puts the cost of Princeton University notably higher than the average total cost of attendance of $53,430 at private colleges in the U.S.

Graduate Tuition and Fees

Costs for 2022-23

Princeton’s graduate student tuition was $57,410 for the 2022-23 academic year. Graduate students are also required to pay $3,000 in fees for a student health plan, making the total cost of attendance $60,410. By comparison, the average graduate tuition and fees at private schools in the U.S. was $19,616 for the same year.

There are many options for graduate loans that can help with these costs.

Cost per Credit Hour

The undergraduate cost per credit hour for the 2022-2023 Academic Year is $1,794. Most Princeton students are enrolled full-time and pay full-time tuition, but some attend part-time and pay per credit hour. If you’re taking eight credits per semester, your Princeton tuition would be $14,352.

Campus Housing Expenses

Costs for 2022-23

*Based on one-bedroom apartment pricing. Average rate based on available apartments on Princeton’s off-campus housing website for 2022-23.

After Princeton tuition, room and board is the next highest expense.

Undergraduate students are guaranteed on-campus housing for all four years of study, though only first- and second-year students are required to live on campus. Princeton has seven residential colleges and 17 residences for upper class housing. Many Princeton college students choose to live on campus for the duration of their studies. However, the university’s Housing and Real Estate Services maintains an off-campus housing website with rental properties in the area. The monthly rental rate for one-bedroom apartments ranged from $1,443 to $2,648 for leases signed July 1, 2022, through June 30, 2023.

Princeton Acceptance Rate

Fall 2021

At just over 4%, Princeton’s acceptance rate is one of the most competitive in the country.

Admission Requirements

There are a number of requirements students must satisfy to be accepted at Princeton. Some application components, including a graded written paper, recommendations, and school records, are mandatory. Others, such as standardized test scores and an alumni interview, are optional.

Required:

•  Completed application, including the Princeton Supplement, submitted online through the Common Application

•  Secondary school record

•  Graded written paper

•  Recommendations

Recommended:

•  Standardized test scores

•  Alumni interview

For the 2024-2025 academic year, the application deadline for restricted early action is November 1, 2023. Early applicants will receive a decision notification by mid-December 2023. Meanwhile, the submission deadline for regular decisions is January 1, 2024, with decision notifications sent by the end of March 2024.

SAT and ACT Scores

Princeton will not require standardized test scores for first-year and transfer applicants through 2025. Students who opt not to submit their ACT or SAT scores will be considered equally for admission as those who do submit scores.

While standardized test scores are optional, here are the scores by test and score at the 25th and 75th percentile

Popular Majors at Princeton University

Students at Princeton University complete either the Bachelor of Arts or the Bachelor of Science in Engineering degree programs, which offer 37 concentrations and 50 certificate programs.

1. Computer Science

The most popular area of study is computer science. The curriculum focuses on advanced computer systems, software systems, programming languages, and other core areas.

Undergraduate degrees in 2020-21: 150

2. Public Policy

A multidisciplinary liberal arts major, public policy is a popular concentration at Princeton for students interested in public service and international affairs. Students with this major participate in fieldwork or cross-cultural experience as part of their degree.

Undergraduate degrees in 2020-21: 123

3. Economics

Economics consistently ranks as one of the most popular majors at Princeton University. Undergraduate coursework explores a range of topics and social issues, including globalization, health and poverty, and applying analytical skills.

Undergraduate degrees in 2020-21: 93

4. Politics

Many students choose Politics as a major of study. The program includes four focus areas: American politics, comparative politics, international relations, and political theory.

Undergraduate degrees in 2020-21: 72

5. History

Another popular concentration area, Princeton’s history major offers courses on a wide range of topics. History students conduct independent research and writing to develop expertise in a specific field of history.

Undergraduate degrees in 2020-21: 54

6. Operations Research and Financial Engineering

This concentration area focuses on the regulation of financial institutions, energy and the environment, transportation systems, and the future of healthcare. It features coursework in several academic fields, including mathematics, sciences, and technology.

Undergraduate degrees in 2020-21: 54

7. Mechanical and Aerospace Engineering

Princeton’s mechanical and aerospace engineering concentration gives students practical experience in designing, building, and testing technology, such as vehicles and robotics systems. The curriculum focuses on solid and fluid mechanics, thermodynamics, control systems, materials, and applied mathematics.

Undergraduate degrees in 2020-21: 49

8. Molecular Biology

Molecular biology students take courses in molecular, cellular, and developmental processes.

Undergraduate degrees in 2020-21: 46

9. Mathematics

In this program, you’ll be taught about all aspects of Marketing, from Digital Marketing to Brand Research. You’ll also study Personal Selling, Pricing Strategies, Retail, and Product Development and Planning. Marketing students get the opportunity to intern in the field.

Undergraduate degrees in 2020-21: 41

10. Ecology and Evolutionary Biology

Ecology and evolutionary biology majors may take courses in physiology, neuroscience, ecosystem biology, conservation, and climate change among other interests. Students will have the opportunity to study in the classroom, lab, and at field sites, and do fieldwork.

Undergraduate degrees in 2020-21: 41

Graduation Rate

Prince University has a high graduation rate. Here are the specific graduation rates:

•  4 years: 90%

•  6 years: 98%

•  8 years: 98%

Post-Graduation Median Earnings

Princeton graduates earn a median of $95,689 a year, according to the U.S. Department of Education’s College Scorecard, This is almost double the average for graduates of other schools, which is $47,922.