“Princeton has one of the most generous financial aid policies in the country. About 60% of students receive financial aid. We provide financial aid in the form of grants, which do not have to be repaid. Our aid program does not require any borrowing so students may graduate debt free. As a result, 82% of our recent seniors graduated debt free.”
Princeton University in the state of New Jersey, United States was chartered as a university in 1746 making it the fourth oldest college in the country. Princeton is part of the elite club of Ivy League colleges, a group of long established universities in the eastern United States having high academic and social prestige. Other universities within that club include Harvard, Yale, Columbia, Cornell and Dartmouth. Someone dropped off a Princeton University brochure at my desk recently and the above quoted text deafeningly jumped out at me. Sixty percent of their students receive financial aid? How? Princeton provides financial aid in the form of grants, which do not have to be repaid? Again, how? The answer lies in one word, which I have consistently written about over the last few years: governance.
