Princeton’s ever-increasing emphasis on expanded financial aid and a more socio-economically diverse campus community represents a positive step towards a more inclusive University. Though many developments have occurred since the early 1990s, much work remains to be done.
While the size of Princeton’s financial aid awards leave little room for criticism, the disbursement of aid must improve.
In particular, Princeton should consider a policy of releasing student credits by the beginning of each semester, if not sooner. Many students may not be familiar with student credits as they primarily affect independent upperclassmen: basically, students for whom financial aid exceeds the cost of tuition and room (which would occur if the student chose not to affiliate with an eating club or have a dining plan), receive the remaining balance into their bank accounts for the purchase of books, food, and other necessities. The size of the balance obviously varies, but it can be substantial. In these cases—when the student relies on University funds to purchase groceries and course materials—the extra money is a necessity.
Unfortunately, current University policy does not benefit students in such a position. These students frequently don’t receive their credit award until some point in the first week of the semester. However, by this point, students need to purchase items like Pequod packets and course books—which must be purchased by charging to the University account. Additionally, many independent students need the credit to purchase groceries and other necessities. In light of these realities, the University should remove the unnecessary stress of delayed disbursement and institute a policy whereby they release all, or at least part, of the student’s credit well before the semester begins. In doing so, Princeton’s goals of increased campus diversity and financial security would be closer to a reality—placing all students on more equal financial footing during all points of the school year.