It may sound counterintuitive, but as college tuition skyrockets and student loan-debt balloons, perhaps families with low incomes should be looking to send their kids to highly competitive, expensive private schools. In New Jersey, that means Princeton University.
According to a new report, Princeton is the fifth most affordable private school in the country for low-income students. Online tutoring platform HeyTutor analyzed price and financial aid data from the National Center for Education Statistics (NCES) and found what students in the $0-$30,000 and the $30,001-$48,000 income brackets would pay out-of-pocket for each school.
Princeton’s posted sticker price of $63,850 a year (for tuition, fees, room and board, etc.) may seem daunting, but the researchers found only about 40 percent of the 5,394 enrolled undergraduate students are paying full price. The average net price for students whose families make less than $30,000 a year comes down to $1,948 per annum. For those whose families make between $30,000 and $48,000 a year, that tuition price is closer to $1,771.
According to the Princeton admissions website, 82 percent of seniors graduated debt-free in 2017-2018.