The trustees approved the increase on Jan. 25, bringing the total University operating budget to $131.6 million.
Princeton's financial aid programs allow students the opportunity to graduate without debt. About 60 percent of undergraduates receive financial aid, according to the University.
The undergraduate tuition will increase to $41,820 and the projected average undergraduate grant for a student on aid in the Class of 2018 will be $42,700.
Princeton's scholarship spending has outpaced fee increases for 13 of the last 14 years and its average annual fee package increase has been among the lowest in the nation for the past 17 years, officials said.