<p>Princeton</a> University - Trustees approve lowest fee package increase since 1966</p>
<p>Princeton University trustees Jan. 24 approved the lowest percentage increase in undergraduate tuition and fees since 1966 -- 2.9 percent -- while also endorsing a 13 percent increase in the undergraduate scholarship budget to ensure that the rise in the fee package will not affect students on financial aid. </p>
<p>"While many universities may have no choice this year but to raise tuition sharply because other income streams have declined abruptly, we believe that Princeton has the capacity to hold down the rate of its increase, and that it ought to do so," he said. "We recognize that this commitment will add to the cost-cutting obligations undertaken by the University community, but we concluded that, in these unusual and difficult times, Princeton needs to take extraordinary measures in light of the hardships being faced by many tuition-paying families."</p>
<p>The projected budget increase in the financial aid program from nearly $92 million this year to more than $104 million next year will continue significant enhancements the University has made over the past 11 years, including replacing all required loans with grants that do not need to be repaid. This year the average grant for a student on financial aid is $33,700. These efforts have dramatically increased the economic diversity of Princeton's student body. Of this year's freshman class, a record 56 percent, or 700 students, are on financial aid.</p>