The cost of a year at Princeton will rise to about $63,690 under the $1.9 billion operating budget approved by University trustees in April. Undergraduate tuition, room, and board will increase a total of 4.3 percent for 2016–17.

Princeton’s financial-aid budget is projected to increase 6.6 percent next year to $147.4 million. Roughly 60 percent of all undergraduates receive aid, and next year’s average grant is projected to be $47,160.

According to the University, Princeton will have the lowest undergraduate fee package in the Ivy League for the 17th year in a row.

For graduate students, tuition will increase 4.3 percent, housing fees will increase 3 percent, and graduate stipends will rise 3 percent.

The 2016–17 budget includes a $500-per-student “transition allowance” to support low-income first-year students moving to campus.

As part of a two-year plan to increase endowment spending in support of the University’s strategic-planning framework, the budget includes $100 million for initiatives including the expansion of the student body, financial aid, and teaching and research in key areas.

The endowment is expected to contribute $908 million to the budget, 47.5 percent of the total. Small budget deficits are projected in coming years, but they “can be readily managed through a combination of expense reduction, possible revenue enhancement, and drawing on budget reserves,” the Priorities Committee said.