Princeton to cover all student costs for most families earning up to $100,000

Details: Tuition, room and board will be covered for most families who have an annual income less than $100,000 — up from the previous $65,000 threshold, according to Princeton.

• The move is expected to benefit roughly 1,500 students — over 25% of the undergraduate student body.
• Many families with income above $100,000 will benefit from additional aid, including those with multiple children in higher education, the college said.
• A majority of additional scholarship funding will go to students from families that earn less than $150,000.

Worth noting: The total cost to attend Princeton for one year — including tuition, meals, housing and other miscellaneous expenses — is around $80,000.

• Without financial aid, families have to pay roughly $320,000 for four years of education.
• The university's endowment topped $37 billion last year.

What they're saying: "One of Princeton’s defining values is our commitment to ensure that talented students from all backgrounds can not only afford a Princeton education but can flourish on our campus and in the world beyond it," Princeton President Christopher L. Eisgruber said in a statement.

• "These improvements to our aid packages ... will enhance the experiences of students during their time at Princeton and their choices and impact after they graduate."

Yes, but: Sandy Baum, an economist at the Urban Institute, told the Washington Post the new effort won't "change the world" in the grand scheme of soaring college costs.