Undergraduate tuition, room, and board charges will increase 3.8 percent for 2013–14 as part of a $1.58 billion operating budget approved Jan. 26 by the University trustees.
The University said that even with the increases, Princeton’s costs will remain “at the bottom of its comparison group” — at least $1,000 less than the fees currently charged by any of the University’s peer schools.
Financial aid is projected to increase 4.6 percent to $121.4 million, with 60 percent of undergraduates expected to receive aid. The average aid package this year is $39,700.
Graduate tuition will increase 3.9 percent to $40,170, and housing rents will rise 3 to 4 percent. Grad-student stipends will increase 3 percent.
Provost Christopher Eisgruber ’83, who chairs the University’s Priorities Committee, which makes budget recommendations to the trustees, said in a Jan. 16 letter that the University is “in excellent financial health.” The budget, which calls for a 4 percent increase in spending, includes $1.2 million in additional resources for priority initiatives such as fellowship advising, Career Services, sustainability, and assistance to scholars as the University creates a new open-access database of Princeton research.
The endowment is expected to contribute $752 million to the budget, up 5.2 percent from the current year. That is 47.6 percent of the projected income.