Princeton offers free tuition to students from families who make less than $100K
(CNN) - Princeton is offering a tuition break to undergraduate students and families who might otherwise not be able to afford it.
Attendance will be free for “most families earning up to $100,000″ a year, and students with family incomes over $100,000 will get more aid.
The total cost for attending Princeton is upwards of $83,000 a year, more than $59,000 in tuition and $11,000-plus for housing.
This isn’t the first time Princeton has made such a move.
In 2001, it became the first university to ensure students wouldn’t have to take out loans to earn a degree there.
Princeton can easily afford to make this offer. According to one expert, the school has a $35.8 billion endowment.
However, the same expert said the move doesn’t address the problem of tuition inflation.
He suggested making schools responsible for a portion of student loan debts in cases of default.
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