Cap and Gown Announces New Financial Aid Policy

At a December 9, 2020 meeting, the Board of Trustees of the Cap and Gown Club unanimously approved a new financial aid policy that provides a grant for club membership to every member on Princeton University financial aid, and guarantees that no member on full financial aid pays any out-of-pocket costs for club membership.

Each year, Cap members who receive any financial aid from Princeton University will receive a grant from the Cap and Gown Financial Aid Fund that covers the difference between the Princeton board rate (inclusive of the additional grant provided by Princeton Financial Aid for upperclassman board) and Cap and Gown member house and board rates. Any member who is not on financial aid from Princeton University, but receives external sources of aid—such as government grants from their home country—is similarly eligible for a Cap and Gown financial aid grant, provided that they meet criteria consistent with Princeton University’s Financial Aid Office’s eligibility criteria. The new policy is transparent, and will ensure that members on University financial aid know the value of the grant that they will receive as soon as the University has released its board rate for an academic year.

Tom Fleming ’69, the Cap and Gown Board Chair, commented, “Cap and Gown membership has become continuously more diverse as the demographic profile of the University has itself grown more diverse, and we are very glad that the club provides a welcome and inclusive atmosphere for all students. Our new financial aid policy has resulted from the leadership of our officers and young alumni board members, who have been champions of ensuring that any student is able to join the club.”

The Cap and Gown Board gives special thanks to the members of the Classes of 2020 and 2021, who donated a large share of their spring board rebates for financial aid when the club closed because of the coronavirus pandemic in March. The Cap and Gown Financial Aid Fund will be supported through funds donated by the Cap and Gown community.

For further information, contact the Cap and Gown Financial Aid Committee, at capfundingcommittee@gmail.com.