- Associated Press - Tuesday, January 28, 2014

PRINCETON, N.J. (AP) - Princeton University is raising the price of an Ivy League education along with the amount of financial aid available to students.

The school’s trustees approved boosting undergraduate tuition by 4.1 percent to $41,820. Room and board will cost $13,620.

The trustees also approved an 8.5 percent increase in undergraduate financial aid to nearly $132 million.

The school says approximately 60 percent of undergrads receive financial aid.

Princeton says the projected average grant for undergraduate students on financial aid in the Class of 2018 to be admitted in the spring will be $42,700.

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